Refer to Figure 5.5. Which diagram shows the price-consumption curve resulting from a decrease in the price of good X?

In the above figure, the efficient amount of output is ________ units

A) 25 B) 50 C) 75 D) 100

A natural monopoly is a monopoly that arises from:

A. having an exclusive right to operate in a national park. B. a firm's natural desire to maximize its profit. C. having exclusive control over the natural resources used to produce a good. D. economies of scale.