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.
Three principle forms of natural selection: (a) stabilizing selection, (b) directional selection, an
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