Average-cost pricing for a natural monopoly will: a. result in ...

[Jramos095]

Average-cost pricing for a natural monopoly will:
 a. result in the socially efficient level of output.
 b. result in a less than socially efficient level of output.
  c. result in a greater than socially efficient level of output.
  d. result in the firm suffering economic losses.

Question 2

If the world price of a good is lower than its domestic equilibrium price, the country will:
 a. import a quantity of the good equal to the difference between the quantity demanded domestically and the quantity supplied domestically.
  b. export a quantity of the good equal to the difference between the quantity demanded domestically and the quantity supplied domestically.
  c. import a quantity of the good equal to the difference between the quantity demanded domestically and the quantity supplied by foreign producers.
  d. export a quantity of the good equal to the difference between the quantity demanded by foreign consumers and the quantity supplied domestically.
  e. import a quantity of the good equal to the difference between the quantity demanded by foreign consumers and the quantity supplied by foreign producers.

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Answer to Question 1

b

Answer to Question 2

a