Which of the following average cost functions suggests the presence of a natural monopoly?
A) AC = 2
B) AC = 100/Q + 2
C) TC = 100/Q + 2Q
D) All of the above.
B
Economics
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The following are all final goods EXCEPT
A) flour used by the baker to make cupcakes. B) bread eaten by a family for lunch. C) pencils used by a 6th grader in class. D) Nike shoes used by a basketball player. E) a computer used by Intel to design new computer chips.
Economics
Which of the following actions could be undertaken if the government wants to reduce an inflationary gap?
A) Increase taxes and reduce government spending. B) Reduce taxes and increase government spending. C) Increase taxes and increase government spending. D) Reduce taxes and reduce government spending.
Economics