When demand is perfectly inelastic, the demand curve is
A) horizontal.
B) vertical.
C) upward sloping.
D) downward sloping.
Answer: B
Economics
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The figure above provides information about Light-U-Up Utilities, which is a natural monopoly that provides electricity. If Light-U-Up is unregulated, it will produce ________ and sell at a price of ________
A) 200 kwh; 10¢ per kwh B) 200 kwh; 30¢ per kwh C) 300 kwh; 20¢ per kwh D) 400 kwh; 10¢ per kwh
Economics
A monopolist will operate in the short run if which of the following is above average variable cost?
a. Marginal cost. b. Marginal revenue. c. Price. d. All of these.
Economics