The fact that wants cannot be fully satisfied with available ...

[evelyn o bentley]

The fact that wants cannot be fully satisfied with available resources reflects the definition of
 
  A) the what tradeoff.
  B) scarcity.
  C) the big tradeoff.
  D) for whom to produce.

Question 2

If a natural monopoly is told to set price equal to average cost, then the firm
 
  A) is not able to set marginal revenue equal to marginal cost.
  B) automatically also sets price equal to marginal cost.
  C) will make a substantial economic profit.
  D) will incur an economic loss.
  E) sets a price that is lower than its marginal cost.

[emily12345]

Answer to Question 1

B

Answer to Question 2

A

[evelyn o bentley]

Correct answers!

[emily12345]

Great! Please up vote