Suppose a graph with Ron's weight on the vertical axis and his consumption of ice cream on the horizontal axis indicated that for each serving of ice cream he ate, Ron would gain 3 pounds, regardless of how much ice cream he had already eaten. This graph would show a

Which of the following statements is true of British colonies in Jamaica and Barbados?

A) Production was based on well-defined property rights and private ownership of resources. B) The institutions set up in colonies in Jamaica and Barbados were mostly inclusive. C) Participation of the natives in politics was greatly limited. D) The colonies were similar to the ones set up in North America.

A natural monopoly exists when, throughout the range of market demand,

a. average cost is increasing b. there are diseconomies of scale c. there are economies of scale d. average cost is constant e. marginal cost exceeds average cost