Which of the following describes a natural monopoly?
a. When economies of scale are large relative to size of market
b. Created by the government through patents, copyrights
c. When one firm has control of a physical resource
d. When one firm pursues predatory pricing
a. When economies of scale are large relative to size of market
You might also like to view...
Which of the following is NOT a popular stock market index?
A) Dow Jones Industrial Average B) NASDAQ C) S&P 500 D) Moody's Market Index
In the United States, incomes historically have grown about 2 percent per year. At this rate, average income doubles every
a. 15 years. b. 25 years. c. 35 years. d. 45 years.
A call option described as at the money would find:
A. the option has been exercised. B. the market price of the stock is above the strike price. C. the market price of the stock is below the strike price. D. the market price of the stock equals the strike price.
In a simple lawn-mowing business where you have a push mower and labor as input, what would be the impact on output of adding an additional input in the form of a gas self-propelled mower (capital)?
A. Labor would decrease. B. Output would decrease. C. Output would remain the same. D. Output would increase.