Refer to the graphs below. They show the long-run average total cost (LRATC) for a product. Which graph would most probably be applicable to a natural monopoly?

Other things remaining the same, which of the following is likely to happen if an industry introduces a labor-complementary technology in production?

A) There will be a rise in both the wage rate and the employment levels in the industry. B) There will be a fall in both the wage rate and the employment levels in the industry. C) There will be a fall in the wage rate and a rise in the employment levels in the industry. D) There will be a rise in the wage rate and a fall in the employment levels in the industry.

When the method used to collect a sample biases any conclusions that might be drawn from it, the sample is said to have a selection bias

Indicate whether the statement is true or false