The average total cost curve of a natural monopoly is always
a. upward sloping.
b. horizontal.
c. downward sloping at all points.
d. downward sloping where it crosses the market demand curve for the good.
d
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In what ways does a certificate of deposit (CD) differ from a savings deposit?
What will be an ideal response?
A situation in which the market system allocates too few resources to the production of a given activity is known as
A) market allocation. B) market failure. C) market efficiency. D) market signaling.
Suppose that each serving of Mac amp; Cheese costs $0.50 to make no matter how many servings are produced. This means that the price elasticity of supply for Mac amp; Cheese is ________ and the supply curve is ________.
A. infinite; perfectly inelastic B. one; perfectly inelastic C. infinite; perfectly elastic D. zero; perfectly elastic
If a group has a negative elasticity of labor supply (above some income level), then continued increases in wages will result in decreases in the quantity of labor supplied.
Answer the following statement true (T) or false (F)