A natural monopoly is a market where: a. a single firm has ...

[EY67]

A natural monopoly is a market where:
 a. a single firm has control over a vital natural resource.
  b. many smaller firms can produce the entire market output at the same per-unit cost as could one large firm.
  c. a single large firm can produce the entire market output at a lower per-unit cost than a group of smaller firms.
  d. many smaller firms can produce the entire market output at a lower per-unit cost than could one large firm.

Question 2

As more Big Macs are consumed each day, the marginal utility that a person gets from each additional Big Mac:
 a. rises at a steady rate.
  b. decreases.
  c. remains constant.
  d. accelerates.

[dyrone]

Answer to Question 1

c

Answer to Question 2

b

[EY67]

Thanks for the timely response, appreciate it

[mochi09]

Excellent