If the utility function (U) between food (F) and clothing (C) can be represented as U = , the marginal rate of substitution of clothing for food equals

Which of the following is an example of a natural monopoly?

a. Government b. The railway system c. An internet service provider d. An automobile manufacturer

According to the law of supply,

a. more of a good is desired by consumers as the price falls. b. less of a good is desired by consumers as the price rises. c. more of a good will be offered by suppliers as the price rises. d. less of a good will be offered by suppliers as the price rises.