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Author Question: The fact that wants cannot be fully satisfied with available resources reflects the definition of ... (Read 61 times)

evelyn o bentley

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on: Jun 29, 2018
The fact that wants cannot be fully satisfied with available resources reflects the definition of
 
  A) the what tradeoff.
  B) scarcity.
  C) the big tradeoff.
  D) for whom to produce.

Question 2

If a natural monopoly is told to set price equal to average cost, then the firm
 
  A) is not able to set marginal revenue equal to marginal cost.
  B) automatically also sets price equal to marginal cost.
  C) will make a substantial economic profit.
  D) will incur an economic loss.
  E) sets a price that is lower than its marginal cost.


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emily12345

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

A


evelyn o bentley

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Reply #2 on: Jun 29, 2018
Correct answers!


emily12345

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Reply #3 on: Jun 29, 2018
Great! Please up vote :D


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