Which of the following firms operates in a natural monopoly?
a. Telephone company.
b. Electric company.
c. Water company.
d. All of these.
d
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If the market price is $50 per unit for a good produced in a perfectly competitive market and the firm's average total cost is $52, then the firm
A) incurs an economic loss of $2 per unit. B) makes an economic profit of $2 per unit. C) makes zero economic profit. D) incurs a total economic loss of $52. E) More information is needed to determine the firm's economic profit or loss per unit.
The marginal benefit is the
A) additional gain from one more unit of an activity. B) additional cost from one more unit of an activity. C) loss of the highest-valued alternative. D) additional gain from one more unit of an activity minus the additional cost from one more unit of the activity.
The study quoted in the text demonstrated that calorie posting did not cause any significant changes in Starbucks revenue over all
Indicate whether the statement is true or false
If consumers elect to postpone consumption so they can have a more enjoyable future, the supply of loanable funds would increase and the market rate of interest would fall
a. True b. False