A natural monopoly results when a firm has
a. a license
b. a patent
c. official approval to produce a product
d. decreasing average costs over the range of market demand
e. exclusive use of a natural resource
D
Economics
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A bank currently has demand deposits of $100,000 . reserves of $30,000 . and loans of $70,000 . If the legal reserve requirement is lowered from 20 percent to 15 percent, this bank can increase its loans by
a. $10,000 b. $15,000 c. $75,000 d. $5,000 e. $ 0
Economics
Any reserves held by a bank above the amount of minimum legal reserves are called
a. total reserves. b. required reserves. c. fiat money. d. excess reserves.
Economics