For a natural monopoly to cover its total cost, its price must equal its
A) average total cost.
B) marginal cost.
C) demand.
D) total fixed cost.
E) marginal revenue.
A
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In the case of a perfectly competitive firm, the optimal markup over marginal cost is 0 percent
Indicate whether the statement is true or false
Which statement is the most accurate?
A. Labor unions today have very little economic power. B. Large employers today have very little economic power. C. Every few years a strike virtually shuts down our economy. D. Since WWII, the economy has never lost as much as one half of 1% of its work time because of strikes.
Workers are demanded and supplied in the
A. money market. B. labor market. C. transfer market. D. goods and services market.
In the u.s., any project requiring a federal permit or license, or using federal funds, by law must be preceded by an
A. needs assessment B. archeological assessment C. cultural assessment D. social impact statement