This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which of the following is true under natural monopoly? a. The marginal cost curve will be above the ... (Read 23 times)

Shelles

  • Hero Member
  • *****
  • Posts: 582
on: Jun 30, 2018
Which of the following is true under natural monopoly?
 a. The marginal cost curve will be above the average cost curve.
  b. The monopolist will set price equal to marginal cost and will earn economic profits.
  c. Economies of scale exist.
  d. Output is produced under conditions of constant cost.

Question 2

Which of the following most directly reflects the law of diminishing marginal utility?
 a. After watching two football games, Terry decides to watch a third game.
  b. A sports fan enjoys watching Monday night football rather than going to the theater.
  c. After listening to three compact discs, Kim decides to go bowling rather than listen to a fourth disc.
  d. A musician receives the biggest ovation of the evening after playing the final number of a recital.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

DHRUVSHAH

  • Sr. Member
  • ****
  • Posts: 317
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

c


Shelles

  • Member
  • Posts: 582
Reply 2 on: Jun 30, 2018
Wow, this really help

parker125

  • Member
  • Posts: 332
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

Did you know?

Though newer “smart” infusion pumps are increasingly becoming more sophisticated, they cannot prevent all programming and administration errors. Health care professionals that use smart infusion pumps must still practice the rights of medication administration and have other professionals double-check all high-risk infusions.

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Did you know?

About 100 new prescription or over-the-counter drugs come into the U.S. market every year.

The titration curve of phosphoric acid (H3PO4), a common buffer in biological sy The titration curve of phosphoric acid (H3PO4), a common buffer in biological sy
The age-dependent curve of salivary progresterone levels in three populations. The age-dependent curve of salivary progresterone levels in three populations.
This CNG pump is capable of supplying compressed natural gas at either 3,000 PSI or 3,600 PSI. The ... This CNG pump is capable of supplying compressed natural gas at either 3,000 PSI or 3,600 PSI. The ...
How to find the domain of a natural logarithmic functions (Part 2) How to find the domain of a natural logarithmic functions (Part 2)
Evolution and Natural selection shapes organisms and diversity Evolution and Natural selection shapes organisms and diversity
The Lorenz Curve for the United States, 2009 The Lorenz Curve for the United States, 2009
Video: Spinal Cord Injury Animation

For a complete list of videos, visit our video library