Author Question: In a natural monopoly, the long-run average cost curve declines and therefore average cost is lower ... (Read 45 times)

student77 · **on:** Jun 30, 2018

In a natural monopoly, the long-run average cost curve declines and therefore average cost is lower when there is only one seller.
a. True
b. False
Indicate whether the statement is true or false

Question 2

The law of diminishing marginal utility implies that the marginal utility of my tenth pistachio nut is less than the marginal utility of my third pistachio nut, other things constant.
a. True
b. False
Indicate whether the statement is true or false