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Author Question: For a natural monopoly to exist A) a firm must continually buy up its rivals. B) a firm must ... (Read 63 times)

bobbysung

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on: Jun 29, 2018
For a natural monopoly to exist
 
  A) a firm must continually buy up its rivals.
  B) a firm must have a government-imposed barrier.
  C) a firm's long-run average cost curve must exhibit diseconomies of scale beyond the economically efficient output level.
  D) a firm's long-run average cost curve must exhibit economies of scale throughout the relevant range of market demand.

Question 2

The demand curve for a Giffen good is
 
  A) non-existent. B) upward sloping.
  C) non-linear but downward sloping. D) vertical.
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
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ebonylittles

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

B


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