Determinants of income differences include all of the following EXCEPT

When an average cost pricing rule is imposed on a natural monopoly, ________

A) total surplus is maximized and the monopoly incurs an economic loss B) the monopoly makes zero economic profit C) the monopoly makes an economic profit D) total surplus is maximized and the monopoly makes an economic profit

The total revenue from selling trucks is equal to

a. the price of a truck times the quantity sold b. the change in quantity sold divided by the change in price c. average cost times quantity produced d. the price of a truck times the quantity produced e. the price of a truck times the price elasticity of demand