Economists call a single firm that can supply the entire market at a lower cost than two or more firms a __________ monopoly.
Fill in the blank(s) with the appropriate word(s).
Ans: natural
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Refer to Table 14-8. Which of the following is true?
A) Brawny Juice's dominant strategy is to select a high price. B) Power Fuel does not have a dominant strategy. C) Power Fuel's dominant strategy is to select a low price. D) Brawny Juice does not have a dominant strategy.
Which of the following decreases U.S. aggregate demand?
a. a lower price level, increasing citizen's real wealth b. a lower price level, reducing interest rates c. a lower price level, increasing exports and decreasing imports d. None of the above decrease U.S. aggregate demand.
The balance sheet for a commercial bank shows the bank's
a. required reserves as assets and excess reserves as liabilities b. loans as assets and required reserves as liabilities c. loans as assets and demand deposits as liabilities d. demand deposits as assets and loans as liabilities e. excess reserves as assets and required reserves as liabilities
Suppose Bev's Bags makes two kinds of handbags-large and small. Bev rents an industrial space where she keeps the fabric, the industrial sewing machine, her measuring board and cutting shears, extra needles, thread and buttons, and labels. Bev can produce three bags an hour, regardless of the size of bag. Which of the following would be considered a fixed cost of this company?
A. The sewing thread B. The fabric C. The rent Bev pays D. None of these would be considered a fixed cost.