In marginal cost pricing, the natural monopoly would have to set price equal to
A) AFC.
B) AVC.
C) ATC.
D) MC.
D
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The LRAC curve
A) is the minimum points on all the short-run ATC curves. B) shows the lowest possible marginal cost of producing the different levels of output. C) shows the lowest attainable average total cost for all levels of output when all inputs can be varied. D) generally lies above the short-run ATC curves.
The capacity of a firm can best be described as:
A) when a firm are producing maximum output B) a firm's production when operating normal hours using a normal sized workforce C) when a firm makes full use of all the space available in his factory or building D) when all of the firm's workers are producing at their maximum potential
Fixed investment is typically ________
A) smaller than inventory investment B) calculated as the change in holdings of raw materials and finished goods C) planned spending on equipment, structures, and new residential housing D) all of the above E) none of the above
Of the following demographic groups, which has the lowest poverty rate in the U.S.?
a. Families headed by a female with no adult male present. b. Families in which the "head of the household" has not attained a high-school education. c. Families headed by a male with no adult female present. d. Families in which the "head of the household" has attained at least a bachelor's degree from a college or university.