Breaking up a natural monopoly would be
A. illegal.
B. inefficient.
C. economically efficient.
D. impossible.
Answer: B
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One key implication of rational expectations is that
A) anticipated monetary policy has no effect on the rate of unemployment or the level of real GDP. B) unanticipated monetary policy has no effect on the economy but anticipated monetary policy does have an effect on the economy. C) anticipated monetary policy can affect the rate of unemployment but not the level of real GDP. D) both unanticipated monetary policy and anticipated monetary policy have an effect on the economy.
Which combination is a clear example of "joint products"?
A) Pine paneling and cherry wood B) Cherry wood and cherries C) Cherries and apples D) Apples and crackers
If the fixed costs for a firm rise what will be the impact on the marginal cost, average variable cost and average total cost curves? Explain
What will be an ideal response?
A perfectly competitive firm's horizontal demand curve implies that the firm does not have to lower its price to sell more output
Indicate whether the statement is true or false