In a natural monopoly, ATC ______ as output ______.
a. rises; expands
b. falls; expands
c. falls; falls
d. rises; ceases
b. falls; expands
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The cost of output is income to the land, labor, capital and entrepreneurial talent used to produce it
Indicate whether the statement is true or false
Fogel and Engerman (1974) argue that slavery was economically viable until 1860
Indicate whether the statement is true or false
Which one of the following would be recorded as a credit in the U.S. balance of payments accounts?
a. the purchase of an European-made car by an American b. the purchase of insurance from Lloyd's of London by an American business firm c. the purchase of an American-made computer by an European business d. the purchase of Japanese bonds by an American investor
The United Auto Workers is striking against Ford. The Teamsters refuse to deliver steel to Ford. This is an example of
A) a jurisdictional dispute and is illegal under the Taft-Hartley Act. B) a secondary boycott and is illegal under the Taft-Hartley Act. C) a sympathy strike and is illegal under the Taft-Hartley Act. D) a closed shop and is illegal under the Wagner Act.