Waterview Corp, a local water supplier, incurs a fairly minimal marginal cost to provide water services to an additional home in its area of operation. This implies that the water supplier:
a. experiences economies of scale
b. has inferior technology.
c. has an infinite stock of raw materials.
d. practices perfect price discrimination.
a
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What is a minimum wage? What are the effects of a minimum wage set below the equilibrium wage rate?
What will be an ideal response?
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Answer the following statement true (T) or false (F)