A natural monopoly exists when, throughout the range of market demand,
a. average cost is increasing
b. there are diseconomies of scale
c. there are economies of scale
d. average cost is constant
e. marginal cost exceeds average cost
C
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Is the $208 million that electricity producers will spend to comply with the new rules part of the opportunity cost of producing electricity?
What will be an ideal response?
A restriction on bank activities that was repealed in 1999 was
A) the prohibition of the payment of interest on checking deposits. B) restrictions on credit terms. C) minimum down payments on loans to purchase securities. D) separation of commercial banking from the securities industries.
Assets that are used for money that have intrinsic value generally keep:
A. a more steady value than those that don't. B. just as steady a value as those that don't. C. a less steady value than those that don't. D. a value that is not comparable to other assets.
Which of the following statements about markets and industries is TRUE?
A.A market includes buyers but not sellers. B. An industry includes buyers but not sellers. C.A market includes sellers but not buyers. D. An industry includes sellers but not buyers.