When an average cost pricing rule is imposed on a natural monopoly, ________.
A) total surplus is maximized and the monopoly incurs an economic loss
B) the monopoly makes zero economic profit
C) the monopoly makes an economic profit
D) total surplus is maximized and the monopoly makes an economic profit
Question 2
Organic food might be good for your health but in light of the 2008 downturn in the economy and falling incomes, consumers are buying less organic and more non-organic food. Based on these events, what is TRUE?
A) Organic food is a normal good and non-organic food is an inferior good.
B) Organic food is an inferior good and non-organic food is a normal good.
C) Organic food is a normal good and non-organic food is a normal good.
D) Organic food is an inferior good and non-organic food is an inferior good.
When a Tornado Strikes: Social Organization Following a Natural Disaster
Types of ecosystem service vs. total global value per year
Use the product rule to find derivative
Average real hourly wages (2010 dollars) by education level, full-time workers aged 17 to 34 in 2011
What is the total resistance of the circuit in Figure 1? 150
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.