A firm that is a natural monopoly
a. is not likely to be concerned about new entrants eroding its monopoly power.
b. is taking advantage of economies of scale.
c. would experience a higher average total cost if more firms entered the market.
d. All of the above are correct.
d
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What is utilitarian justice?
What will be an ideal response?
Refer to Table 2-3. Dina faces ________ opportunity costs in the production of sliders and hot wings
A) negative B) constant C) increasing D) decreasing
Which of the following is true of saving and investment?
a. There is no relationship between saving and investment; people can invest without having to save. b. Saving and investment can never be undertaken together by the same person. c. Saving and investment must always be undertaken by the same person. d. If investment is going to be undertaken, someone must save.
Which organization meets regularly to establish rules related to international trade?
The United Nations The Bank of America The World Trade Organization The Federal Reserve Board