Author Question: A natural monopoly has a. constant average costs cost over the relevant range of output. b. ... (Read 50 times)

123654777 · **on:** Jun 30, 2018

A natural monopoly has
a. constant average costs cost over the relevant range of output.
b. economies of scale over the relevant range of output.
c. constant returns to scale over the relevant range of output.
d. diseconomies of scale over the relevant range of output.

Question 2

Preferential trade agreements have a beneficial trade-diversion effect when they reduce prices for traded goods and stimulate the volume of international trade.
a. True
b. False
Indicate whether the statement is true or false