Author Question: A natural monopoly maximizes profits at the point at which price equals minimum average total cost. ... (Read 97 times)

ss2343

  • Hero Member
  • *****
  • Posts: 548
A natural monopoly maximizes profits at the point at which price equals minimum average total cost.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

The law of diminishing marginal utility states that total utility increases by smaller and smaller increments as more of a good is consumed.
 a. True
  b. False
  Indicate whether the statement is true or false



aadams68

  • Sr. Member
  • ****
  • Posts: 317
Answer to Question 1

False

Answer to Question 2

True



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

In 1844, Charles Goodyear obtained the first patent for a rubber condom.

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Did you know?

Colchicine is a highly poisonous alkaloid originally extracted from a type of saffron plant that is used mainly to treat gout.

For a complete list of videos, visit our video library