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Author Question: If there is just one producer in an industry where the average total cost curve declines throughout ... (Read 56 times)

jessicacav

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If there is just one producer in an industry where the average total cost curve declines throughout the output range up to where it intersects the industry demand curve:
 a. the industry will be a natural monopoly.
 b. charging a price equal to marginal cost would entail economic losses for the producer.
  c. charging a price equal to average cost would entail a welfare cost.
 d. All of the above would be true.

Question 2

A country on a gold standard was able to maintain people's confidence in the value of its currency by:
 a. printing more and more paper money.
  b. restricting international exchange of goods and services.
  c. ensuring the convertibility of paper money into gold.
  d. maintaining a fixed stock of foreign currencies.
  e. ensuring balance of payment surplus.



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jasonq

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Answer to Question 1

d

Answer to Question 2

c




jessicacav

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it


nanny

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

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