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Author Question: An industry in which total costs are kept to a minimum because only one firm serves the whole market ... (Read 14 times)

cherise1989

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on: Jun 30, 2018
An industry in which total costs are kept to a minimum because only one firm serves the whole market is called a:
 a. natural monopoly.
  b. competitive monopoly.
  c. patent monopoly.
  d. limit monopoly.

Question 2

If marginal utility becomes negative for the first time, which of the following is true?
 a. Total utility is growing steeply.
 b. Total utility begins to decline.
 c. A rational consumer would never knowingly pay a positive price for these units of the good or service generating negative marginal utility.
  d. Total utility equals marginal utility.
 e. Both b. and c. above are correct.


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poopface

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Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

e


cherise1989

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Reply 2 on: Jun 30, 2018
Excellent

TheNamesImani

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Reply 3 on: Yesterday
:D TYSM

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