A market in which a single firm can produce, at a lower cost than multiple firms, the entire quantity of output demanded is called:
A. price gouging.
B. diseconomies of scale.
C. government intervention.
D. a natural monopoly.
Answer: D
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The phrase "decreasing marginal benefit" means that
A) the more you consume of the product, the less total benefit you derive. B) the marginal cost will be increasing as you consume more of a good. C) each additional unit of a good you consume gives you less additional benefit than the previous unit. D) Both answers A and B are correct. E) Both answers A and C are correct.
A net borrower is a country that ________, while a net lender is a country that ________
A) borrows more than it lends; owes more to foreigners than foreigners owe to it B) decreases its stock of outstanding foreign debt; lends more than it borrows C) borrows more than it lends; lends more than it borrows D) lends more than it borrows; borrows more than it lends
Domestic agricultural subsidies intended to support the nation's farmers would not be considered a trade barrier so would not be disputed internationally
Indicate whether the statement is true or false
When borrower-spenders raise funds in financial markets, they issue new securities in the
A) primary market. B) secondary market. C) third market. D) fourth market.