The average total cost curve eventually slopes upwards because of the
A) law of diminishing returns.
B) reductions in average fixed costs.
C) increase in capital costs.
D) decrease in labor costs.
A
Economics
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In what way is better protection of the environment a possible result of successful development?
What will be an ideal response?
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A natural monopoly is likely to arise when:
a. the government restricts entry through licensing b. patents provide protection of intellectual property. c. economies of scale exist over the relevant range of demand. d. a firm controls a crucial input to production.
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