When a firm's LRAC curve is still declining when it intersects the market demand curve, we call the firm a(n)
A. natural monopolist.
B. oligopolist.
C. perfect competitor.
D. monopolistic competitor.
Answer: A
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A. ?1(s1*, s2*) ? ?1(s1, s2*) for all s1. B. ?1(s1, s2*) ? ?2(s1*, s2*) for all s1 and ?2(s1*, s2) ? ?1(s1*, s2*) for all s2. C. ?1(s1*, s2*) ? ?1(s1, s2*) for all s1 and ?2(s1*, s2*) ? ?2(s1*, s2) for all s2. D. ?1(s1*, s2*) ? ?2(s1, s2*) for all s1 and ?2(s1*, s2*) ? ?1(s1*, s2) for all s2.