A rise in the overall price level means that:
A. a given number of dollars won't buy as much real goods and services.
B. dollar-denominated assets have lost their value.
C. the cost of living has gone down.
D. None of these is true.
A. a given number of dollars won't buy as much real goods and services.
Economics
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When a firm has a natural monopoly, the firm's
a. marginal cost always exceeds its average total cost. b. total cost curve is horizontal. c. average total cost curve is downward sloping. d. marginal cost curve must lie above the firm's average total cost curve.
Economics