Refer to Figure 15-15. Erickson Power is a natural monopoly because
A) average total cost is still declining when it intersects demand.
B) of its continually declining marginal revenue curve as output rises.
C) it is a power company and all power companies are natural monopolies.
D) its marginal cost lies entirely below its long-run average cost.
A
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A tax is regressive if it
A. is levied on consumers. B. takes a smaller percentage of income as income increases. C. takes a higher percentage of income as income increases. D. takes the same percentage of income regardless of income level.
The table above gives the demand and supply schedules for the housing market in a small town. If a rent ceiling of $200 a month is imposed, what is the quantity demanded, the quantity supplied, and the shortage of housing?
What will be an ideal response?
Credit cards a. are a method of deferring payment, and people who have credit cards hold less money on average. b. are a method of deferring payment, and people who have credit cards hold more money on average. c. are a medium of exchange, and people who have credit cards hold less money on average
d. are a medium of exchange, and people who have credit cards hold more money on average.
When a country experiences capital flight its currency
a. appreciates and net exports rise. b. appreciates and net exports fall. c. depreciates and net exports rise. d. depreciates and net exports fall.