________ earned the highest amount of income among the factors of production in the United States

If the regulatory agency sets a price where AR = AC for a natural monopoly, output will be

A) equal to the competitive level. B) equal to the monopoly profit maximizing level. C) greater than the monopoly profit maximizing level and less than the competitive level. D) greater than the competitive level.

The short-run aggregate supply curve: a. is positively sloped

b. is negatively sloped. c. is a vertical line parallel to the price level axis. d. is a horizontal line parallel to the output axis. e. is a ray from the origin with slope exactly equal to 1.