When the firm is a price taker, at the quantity where profit is maximized,

Natural monopolies are ________ and ________

A) rival; excludable B) nonrival; excludable C) rival; nonexcludable D) nonrival; nonexcludable

The economic system that answers the What, How and For Whom questions by central authority is a:

a. market economy. b. command economy c. traditional economy. d. any of these