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Author Question: If a firm is a natural monopoly, its a. long-run average cost declines over the full range of ... (Read 31 times)

abern

  • Hero Member
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  • Posts: 533
on: Jun 30, 2018
If a firm is a natural monopoly, its
 a. long-run average cost declines over the full range of market demand
  b. long-run average cost increases over the full range of market demand
  c. fixed cost declines over the full range of market demand
  d. fixed cost increases over the full range of market demand
  e. long-run average cost declines and marginal cost rises over the full range of market demand

Question 2

By paying a higher-than-market wage, a firm can avoid the problem of
 a. reputation as hostage
  b. moral hazard
  c. the winner's curse
  d. adverse selection
  e. symmetrical information


connor417

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  • Posts: 329
Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

D


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