This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which of the following is true under natural monopoly? a. The marginal cost curve will be above the ... (Read 81 times)

Shelles

  • Hero Member
  • *****
  • Posts: 582
on: Jun 30, 2018
Which of the following is true under natural monopoly?
 a. The marginal cost curve will be above the average cost curve.
  b. The monopolist will set price equal to marginal cost and will earn economic profits.
  c. Economies of scale exist.
  d. Output is produced under conditions of constant cost.

Question 2

Which of the following most directly reflects the law of diminishing marginal utility?
 a. After watching two football games, Terry decides to watch a third game.
  b. A sports fan enjoys watching Monday night football rather than going to the theater.
  c. After listening to three compact discs, Kim decides to go bowling rather than listen to a fourth disc.
  d. A musician receives the biggest ovation of the evening after playing the final number of a recital.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

DHRUVSHAH

  • Sr. Member
  • ****
  • Posts: 317
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

c


Shelles

  • Member
  • Posts: 582
Reply 2 on: Jun 30, 2018
:D TYSM

  • Member
  • Posts:
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

In 1864, the first barbiturate (barbituric acid) was synthesized.

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

Did you know?

It is believed that the Incas used anesthesia. Evidence supports the theory that shamans chewed cocoa leaves and drilled holes into the heads of patients (letting evil spirits escape), spitting into the wounds they made. The mixture of cocaine, saliva, and resin numbed the site enough to allow hours of drilling.

Did you know?

Cytomegalovirus affects nearly the same amount of newborns every year as Down syndrome.

Did you know?

The first successful kidney transplant was performed in 1954 and occurred in Boston. A kidney from an identical twin was transplanted into his dying brother's body and was not rejected because it did not appear foreign to his body.

The titration curve of acetic acid The titration curve of acetic acid
Activated Natural Killer Cell (NK Cell) Activated Natural Killer Cell (NK Cell)
Earth scientists have devised a scheme to divide the planet’s natural history into distinct time ... Earth scientists have devised a scheme to divide the planet’s natural history into distinct time ...
La Niña: The impact of natural cycles La Niña: The impact of natural cycles
True Dover Sole True Dover Sole
The age-of-onset curve for Huntington disease (HD) The age-of-onset curve for Huntington disease (HD)
Video: Oxygen transport - methods and oxyhemoglobin

For a complete list of videos, visit our video library