If a natural monopoly is allowed to set its price above its average total cost, then
A) the company makes an economic profit.
B) the company incurs an economic loss.
C) competitors will enter the market.
D) the company will produce more than the efficient amount of output.
A
Economics
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Published in 1776, ________ was written by Adam Smith
A) "An Inquiry into the Nature and Causes of the Wealth of Nations" B) "The Declaration of Economics" C) "The General Theory of Employment, Interest, and Money" D) "The Communist Manifesto"
Economics
A firm can experience increasing, constant and decreasing returns to scale for various levels of output
Indicate whether the statement is true or false
Economics