This type of firm would likely operate as a monopoly
A) one of many U.S. wheat farmers.
B) one of the few U.S. auto makers.
C) AT&T long distance phone service.
D) the local water company.
D
Economics
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Most studies of mineral abundance have assumed that
a. Resources are relatively smoothly distributed in the earth's crust b. Resources are unevenly distributed in the earth's crust c. Resource prices will continue to rise in the near future d. Economically recoverable reserves will decrease in the near future e. The economic supply of resources will remain fixed
Economics
A key reason for the existence of firms is that, compared to markets, firms often achieve lower
A) explicit costs. B) transactions costs. C) accounting costs. D) scope of team production.
Economics