Under an average cost pricing rule, a regulated natural monopoly ________ and there is ________
A) makes an economic profit; a deadweight loss
B) makes zero economic profit; no deadweight loss
C) makes zero economic profit; a deadweight loss.
D) incurs an economic loss; no deadweight loss
C
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During fiscal year 2017, the most recent mentioned in the text, the federal government spent approximately
A. $1.2 billion. B. $1.9 trillion. C. $4.0 trillion. D. $15.0 trillion.
Which of the following statements is true?
A) The marginal cost curve intersects the average fixed cost curve at its minimum point. B) When marginal cost is greater than average fixed cost, average fixed cost increases. C) Average fixed cost does not change as output increases. D) As output increases, average fixed cost becomes smaller and smaller.
Refer to Figure 17-3. Which of the panels in the diagram best represents an individual's labor supply curve?
A) Panel A B) Panel B C) Panel C D) Panel D
If factors of production cannot flow between countries
A) there is no reason to expect that wages should be equal worldwide. B) multinational corporations would not exist. C) trade in goods could still occur. D) All of the above.