For a monopoly to be ________, the firm must realize economies of scale at a scale that is close to total demand in the market.
A. granted patents
B. profitable
C. a natural monopoly
D. unregulated
Answer: C
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Pat pays $10,000 for a newly issued two-year government bond with a $10,000 face value and a 6 percent coupon rate. One year later, after receiving the first coupon payment, Pat sells the bond. If the current one-year interest rate on government bonds is 5 percent, then the price Pat receives is:
A. $10,000. B. greater than $10,000. C. less than $10,000. D. $500.
As a percentage of total federal revenues the corporate income tax has _____
a. increased since 1960 b. declined since 1960 c. fallen during the 1980s, but risen since 1992 d. remained fairly constant since 1960
What is the marginal revenue product of labor (MRP)? What shape does the MRP curve have? Why?
What will be an ideal response?
If the quantity supplied of science fiction novels decreases by 3% and the price elasticity of supply is 15, what has been the percentage price change?
a. -15% b. -3% c. -5% d. -0.2%