What is a major characteristic of a natural monopoly?
A. The firm is a single seller of a resource
B. Its sets price equal to marginal revenue
C. There is extensive product advertising
D. There is a large range for economies of scale
D. There is a large range for economies of scale
Economics
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Assuming all else equal, if the labor demand curve shifts to the left and the labor supply curve remains unchanged, ________
A) equilibrium wage falls B) consumption falls C) unemployment rises D) equilibrium wage rises
Economics
Banks are prohibited from holding __________ in their portfolio of assets
A) commercial paper B) local government securities C) farm mortgages D) corporate stock
Economics