Economies of scale throughout the range of market demand give ...

[jho37]

Economies of scale throughout the range of market demand give natural monopolies
 a. downward-sloping long-run average cost curves
  b. upward-sloping long-run average total cost curves
  c. upward-sloping long-run average cost curves
  d. upward-sloping short-run average total cost curves
  e. horizontal long-run average cost curves

Question 2

The golden rule of profit maximization states that any firm maximizes profit by producing where
 a. demand is unit elastic, and total revenue is greatest
  b. price equals average revenue
  c. price equals marginal revenue
  d. price equals marginal cost
  e. marginal revenue equals marginal cost

[apple]

Answer to Question 1

A

Answer to Question 2

E