In a natural monopoly, throughout the range of market demand,
a. marginal cost exceeds average cost and therefore pulls average cost upward
b. average cost exceeds marginal cost and therefore pulls marginal cost upward
c. marginal cost is below average cost and therefore pulls average cost downward
d. average cost is equal to marginal cost
e. there are diseconomies of scale
C
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Portfolio investment refers to a form of financial investment that crosses international boundaries, and thus requires an exchange of currency
a. True b. False Indicate whether the statement is true or false
____________________: provides a minimal discussion of the appraisal with large numbers of references to internal file documentation. If the client just wants to know what the property is worth and does not intend to provide the appraisal to anyone for their use or references, a restricted report may be sufficient.
Fill in the blank(s) with the appropriate word(s).
The problem of lags suggests that monetary policy should
A) respond swiftly to statistical reports of economic conditions in the recent past. B) respond to conditions expected to exist in the future. C) stagger its implementation of policies so that there will be an ongoing effect on the economy. D) not respond to changing economic conditions in the economy but instead rely on the economy's self correcting mechanism.
To ensure quality, piece-rate plans must usually be accompanied by:
A. time clocks. B. profit-sharing plans. C. spot checks. D. quality control mechanisms.