Which of the following is true under natural monopoly?
a. The marginal cost curve will be above the average cost curve.
b. The monopolist will set price equal to marginal cost and will earn economic profits.
c. Economies of scale exist.
d. Output is produced under conditions of constant cost.
c
Economics
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According to the 2005 UNDP Human Development Report child mortality (under age 5) has declined in all regions of the world except:
(a) South Asia (b) Sub-Saharan Africa (c) Middle East and North Africa (d) None of the above
Economics
The sale of which of the following would appear without any modification in GDP?
a. Used automobiles b. Iron ore mined from the ground c. Maid services d. Aluminum rods used in construction e. Wood pulp
Economics