Fixed cost increases when output rises.
Answer the following statement true (T) or false (F)
False
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Which of the following is NOT one of the factors that influences the supply of a product?
A) technology B) income C) number of suppliers D) expected future prices
The figure above provides information about Light-U-Up Utilities, which is a natural monopoly that provides electricity. If Light-U-Up is regulated, what is its economic profit if it must follow an average cost pricing rule?
A) -$60 B) -$20 C) $0 D) $30
A group of firms working together and acting as a supplier of a product is called a cartel. A group of employees working together and acting as a single supplier of labor is called a
Which of the following are financial intermediaries?
a. both banks and mutual funds b. banks but not mutual funds c. mutual funds but not banks d. neither banks or mutual funds