The classic examples of natural monopolies over the years have been
A. public utilities.
B. auto manufacturers.
C. retail trade.
D. agriculture.
Answer: A
You might also like to view...
Bananaland produces only bananas and sunscreen and the quantities and prices for 2012 and 2013 are given in the table above. The base year is 2012. Nominal GDP in 2012 is equal to
A) $500. B) $625. C) $640. D) $800. E) $100.
In the country of Wilkes, taxes are $5 million and benefits are $4 million. Income from labor is $25 million and income from capital is $15 million. What is market income?
A) $20 million B) $39 million C) $40 million D) $9 million
Refer to Figure 5-4. What does S2 represent?
A) the market supply curve that reflects external cost B) the market supply curve that reflects social benefit C) the market supply curve that reflect private cost D) the market supply curve that reflects social cost
Deflation is an overall:
A. decline in prices in the economy. B. rise in prices in the economy. C. decline in prices in the economy, excluding those with historically volatile price changes. D. rise in prices in the economy, excluding those with historically volatile price changes.