Think about cost structures associated with each of the following and decide which is most likely to be a natural monopoly
a. jewelry manufacturer
b. tax-preparation firm
c. movie theater
d. city bus company
e. dry cleaner
D
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The amount of funds that a nation can withdraw from the International Monetary Fund depends upon
A) the rules set up by the World Bank. B) whether it is seeking a long-term or short-term loan. C) whether it is a developing nation or a developed nation. D) its quota subscription.
If a firm is producing no output in the short run, then its total costs are zero
Indicate whether the statement is true or false
To a bank, a loan the bank has made to its borrowers is classified as
A) an asset. B) a liability. C) vault cash. D) excess reserves. E) bank capital.
According to Milton Friedman, continued inflation is always and everywhere
A) a supply-side phenomenon. B) caused by continued decreases in aggregate supply. C) caused by continued increases in the budget deficit. D) a monetary phenomenon. E) none of the above