Natural monopolies have all of the following characteristics except
a. relatively high fixed cost
b. relatively low average variable cost
c. low levels of production
d. difficulty for new firms to enter
e. only one firm can produce profitably
C
Economics
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A budget surplus exists when
A. tax receipts < government expenditures + transfers. B. tax receipts > government expenditures + transfers. C. government expenditures ? transfers > tax receipts. D. government expenditures > transfers + tax receipts.
Economics
There is great concern over the idea that citizens should have to provide specific identification to be able to vote in elections. A study of the costs and benefits of implementing a voter identification program is an example of
A. positive economics. B. laissez-faire economics. C. normative economics. D. labor economics.
Economics