Use the above table and assume a fixed cost of $1000. At an output of 3, AVC is
A. $250.
B. $300.
C. $333.
D. $400.
C. $333.
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The potential problem with competitive pricing regulation of a natural monopoly is that ________.
A. P < MR B. P < ATC C. P < AVC D. P < MC
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Which of the following is an assumption of the median voter model?
a. Voters are assumed to have heterogeneous preferences. b. Voters are assumed to be able to place all possible election outcomes within a one-dimensional continuum. c. Voters are assumed to have homogenous preferences. d. Voters are assumed to be able to compare current election outcomes with past election outcome with perfect recall.