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Author Question: When an average cost pricing rule is imposed on a natural monopoly, ________. A) total surplus is ... (Read 63 times)

Mimi

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on: Jun 29, 2018
When an average cost pricing rule is imposed on a natural monopoly, ________.
 
  A) total surplus is maximized and the monopoly incurs an economic loss
  B) the monopoly makes zero economic profit
  C) the monopoly makes an economic profit
  D) total surplus is maximized and the monopoly makes an economic profit

Question 2

Organic food might be good for your health but in light of the 2008 downturn in the economy and falling incomes, consumers are buying less organic and more non-organic food. Based on these events, what is TRUE?
 
  A) Organic food is a normal good and non-organic food is an inferior good.
  B) Organic food is an inferior good and non-organic food is a normal good.
  C) Organic food is a normal good and non-organic food is a normal good.
  D) Organic food is an inferior good and non-organic food is an inferior good.


durant1234

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

A


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Mimi

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Reply #2 on: Jun 29, 2018
Thank you


durant1234

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Reply #3 on: Jun 29, 2018
No problemo


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