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Author Question: Which of the following firms operates in a natural monopoly? a. Telephone company. b. Electric ... (Read 38 times)

skymedlock

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on: Jun 30, 2018
Which of the following firms operates in a natural monopoly?
 a. Telephone company.
  b. Electric company.
  c. Water company.
  d. All of these.

Question 2

The statement as more of a good is consumed, the utility a person derives from each additional unit diminishes is known as the:
 a. water and diamond paradox.
  b. law of diminishing marginal utility.
  c. law of total utility.
  d. marginal-utility-to-price ratio equalization rule.
  e. law of diminishing demand.


Ddddd

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Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

b


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