Author Question: A natural monopoly exists when one large firm can produce a product at a lower per unit cost than ... (Read 53 times)

jhjkgdfhk · **on:** Jun 30, 2018

A natural monopoly exists when one large firm can produce a product at a lower per unit cost than can smaller firms.
a. True
b. False
Indicate whether the statement is true or false

Question 2

If a laborer in Mexico can produce 2 bushels of wheat or 4 bushels of corn in a day, the opportunity cost of producing wheat is 4 bushels of corn.
a. True
b. False
Indicate whether the statement is true or false