Which of the following is correct about natural monopoly?

a. Natural monopoly exists when a firm has an upward-sloping long-run average cost curve.
b. A natural monopoly arises if a particular firm is able to sell each unit of its output at a different price.
c. A natural monopoly arises when a single firm has a cost advantage over smaller potential entrants.
d. A natural monopoly is created by government patents, licenses, and legal barriers to entry.


c

Economics

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Economic efficiency occurs when the firm produces a given output

A) by using the least amount of inputs. B) by using the maximum amount of inputs. C) at the least cost. D) at the greatest cost.

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List and describe four fields of economics

What will be an ideal response?

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The World Bank was created as a result of the Bretton Woods conference and was originally focused on the reconstruction of Europe after World War II

Indicate whether the statement is true or false

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You are the manager of a spa you believe one of your suppliers is engaged in cartel activity. As the manager, you ________ an incentive to report the behavior because your spa can ________.

A) do not have; receive treble damages B) have; have to pay whistle -blower fees C) have; receive treble damages D) do not have; have to pay whistle-blower fees

Economics