Economic efficiency requires that a natural monopoly's price be
A) equal to average variable cost where it intersects the demand curve.
B) equal to average total cost where it intersects the demand curve.
C) equal to the lowest price the firm can charge and still make a normal profit.
D) equal to marginal cost where it intersects the demand curve.
D
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Refer to the above figure. Which of the graphs is consistent with the Keynesian short-run aggregate supply curve?
A) Graph A B) Graph B C) Graph C D) Graph D
The table shows the PPF of an island community. Choose the best state-ment
A. This community has enough resources to produce 2 pounds of fish and 36 pounds of berries. B. This community cannot produce 2 pounds of fish and 36 pounds of berries because this combination is inefficient. C. This community will waste resources if it produces 2 pounds of fish and 22 pounds of berries. D. This community can produce 2 pounds of fish and 30 pounds of berries but this combination is inefficient.
A matrix organization is organized on the basis of
A. geographic region. B. functional areas of expertise. C. product line. D. both functional specialty and product line.
Consumer would most likely true personal computers as products