This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If a natural monopoly is allowed to set its price above its average total cost, then A) the ... (Read 24 times)

dalyningkenk

  • Hero Member
  • *****
  • Posts: 598
on: Jun 29, 2018
If a natural monopoly is allowed to set its price above its average total cost, then
 
  A) the company makes an economic profit.
  B) the company incurs an economic loss.
  C) competitors will enter the market.
  D) the company will produce more than the efficient amount of output.

Question 2

What does the elasticity of supply measure? How is it calculated?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

bassamabas

  • Sr. Member
  • ****
  • Posts: 294
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

The elasticity of supply measures the response of quantity supplied to a change in price. It is calculated by dividing the percentage change in quantity supplied by the percentage change in price.


dalyningkenk

  • Member
  • Posts: 598
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

coreycathey

  • Member
  • Posts: 333
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

If you could remove all of your skin, it would weigh up to 5 pounds.

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

Average winter rainfall and variation in rainfall among sites inhabited by Suromalus ater Average winter rainfall and variation in rainfall among sites inhabited by Suromalus ater
Natural seletion Natural seletion
Natural defenses against stomach acid Natural defenses against stomach acid
Natural defenses against stomach acid. Natural defenses against stomach acid.
How to transform the natural exponential function (e^x) How to transform the natural exponential function (e^x)
Natural Hazards: Earth's Processes as Hazards, Disasters, and Catastrophes, 4th Edition Natural Hazards: Earth's Processes as Hazards, Disasters, and Catastrophes, 4th Edition
Video: Cellular Respiration & Glucose Mobilization (Glucose transport & Phosphorylation of Glucose)

For a complete list of videos, visit our video library