Which of the following is a potential result of a price ceiling?
A) excess supply
B) long lines
C) higher quality output
D) higher marginal costs
B
Economics
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Comment on the following statement: "In order for a natural monopoly to be present, economies of scale must be realized at a scale that is close to total demand in the market."
What will be an ideal response?
Economics
The price elasticity of demand for pleasure travel (-1.9 ) and business travel (-0.8 ) suggests that air travel for pleasure is a luxury and air travel for business is a necessity
Indicate whether the statement is true or false
Economics