This topic contains a solution. Click here to go to the answer

Author Question: The fact that wants cannot be fully satisfied with available resources reflects the definition of ... (Read 83 times)

evelyn o bentley

  • Hero Member
  • *****
  • Posts: 564
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.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

emily12345

  • Sr. Member
  • ****
  • Posts: 321
Answer to Question 1

B

Answer to Question 2

A





 

Did you know?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

Did you know?

Every 10 seconds, a person in the United States goes to the emergency room complaining of head pain. About 1.2 million visits are for acute migraine attacks.

Did you know?

The human body's pharmacokinetics are quite varied. Our hair holds onto drugs longer than our urine, blood, or saliva. For example, alcohol can be detected in the hair for up to 90 days after it was consumed. The same is true for marijuana, cocaine, ecstasy, heroin, methamphetamine, and nicotine.

Did you know?

Hypertension is a silent killer because it is deadly and has no significant early symptoms. The danger from hypertension is the extra load on the heart, which can lead to hypertensive heart disease and kidney damage. This occurs without any major symptoms until the high blood pressure becomes extreme. Regular blood pressure checks are an important method of catching hypertension before it can kill you.

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

For a complete list of videos, visit our video library