The relationship between the number of hours you study and your economics score is linear.

The total amount of producer surplus in a market is equal to the area above the market supply curve and below the market price

Indicate whether the statement is true or false

The reason a profit-maximizing natural monopolist cannot set price equal to marginal cost is that it would:

A. then be forced to produce more than it could sell. B. suffer losses since price would be less than average cost. C. earn excessive profits, which would attract new firms into the market. D. then be forced to produce more than the socially optimal level of output.