Average-cost pricing for a natural monopoly will:
a. result in the socially efficient level of output.
b. result in a less than socially efficient level of output.
c. result in a greater than socially efficient level of output.
d. result in the firm suffering economic losses.
Question 2
If the world price of a good is lower than its domestic equilibrium price, the country will:
a. import a quantity of the good equal to the difference between the quantity demanded domestically and the quantity supplied domestically.
b. export a quantity of the good equal to the difference between the quantity demanded domestically and the quantity supplied domestically.
c. import a quantity of the good equal to the difference between the quantity demanded domestically and the quantity supplied by foreign producers.
d. export a quantity of the good equal to the difference between the quantity demanded by foreign consumers and the quantity supplied domestically.
e. import a quantity of the good equal to the difference between the quantity demanded by foreign consumers and the quantity supplied by foreign producers.
An example showing a modification that has occurred as a result of biological evolution
Confirming an Extinction-Level Impact Site
How Oil and Natural Gas Form
Average Global Temperature Rise over the Past Century
A Scatterplot of the Test Scores and Average Grades of 10 Students
The developed countries must reduce the level of greenhouse gas emissions