When there are economies of scale over the relevant range of output for a monopoly, the monopoly
a. is a natural monopoly.
b. is a government-granted monopoly.
c. has monopoly power due to the ownership of a patent or copyright.
d. has monopoly power due to the ownership of a key production resource.
a
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According to the U.S. National Safety Council, a person has a better chance of being killed in which of the following situations?
A) in an aircraft accident B) from being electrocuted C) while riding a bicycle D) while walking
The figure above shows depicts the marginal revenue and costs of a perfectly competitive firm. The price the firm charges is
A) $4 per unit. B) $8 per unit. C) $16 per unit. D) None of the above answers is correct.
The U.S. claimed a disproportionate share of world trade given its share of the world's population
Indicate whether the statement is true or false
If the Fed wants to lower interest rates, it should
A. increase the discount rate. B. increase the reserve ratio. C. buy government securities in the open market. D. sell government securities in the open market.