Author Question: A natural monopoly exists if: a. several former competitors merge to become the only producer in ... (Read 20 times)

cdr_15

  • Hero Member
  • *****
  • Posts: 546
A natural monopoly exists if:
 a. several former competitors merge to become the only producer in the industry.
 b. average cost of production is lowest when only one firm produces the entire industry output.
  c. one firm controls the supply of an essential input used by the industry.
 d. a firm has a patent or copyright.

Question 2

Consider a country Atlantica, using dollars () as its currency. If this country sets a price for gold, and then issues currency such that the amount in circulation is equivalent to the value of gold held in reserve, it is said to be the following:
 a. an exchange standard.
  b. a gold standard.
  c. a reserve currency standard.
  d. a crawling peg standard.
  e. a currency board standard.



sarajane1989

  • Sr. Member
  • ****
  • Posts: 296
Answer to Question 1

b

Answer to Question 2

b



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

In 1886, William Bates reported on the discovery of a substance produced by the adrenal gland that turned out to be epinephrine (adrenaline). In 1904, this drug was first artificially synthesized by Friedrich Stolz.

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Did you know?

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

Did you know?

Computer programs are available that crosscheck a new drug's possible trade name with all other trade names currently available. These programs detect dangerous similarities between names and alert the manufacturer of the drug.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

For a complete list of videos, visit our video library