Natural monopolies
A) have one lowest-cost producer in an industry.
B) are not regulated.
C) have long-run average costs equal to zero.
D) do not experience economies of scale.
A
You might also like to view...
Why do economists like competitive markets?
A. Competitive markets result in optimal and efficient levels of production. B. Competitive markets result in lower levels of production. C. Competitive markets are the best way to allocate every good or service. D. Competitive markets result in high prices and profit for sellers.
Which of the following would not be classified as a capital expenditure for decision-making purposes?
a. purchase of a building b. investment in a new milling machine c. purchase of 90-day Treasury Bills d. investment in a management training program e. all of the above are capital expenditures
If income increases, then with regard to expensive cuts of steak, it is likely that the demand curve
a. shifts to the right b. shifts to the left c. becomes steeper d. does not change e. becomes flatter
Most studies have found that tobacco and marijuana are complements rather than substitutes
a. True b. False Indicate whether the statement is true or false