A monopoly which arises from significant economies of scale is referred to as a
A) monopolistic competitor.
B) strategic resource monopoly.
C) natural monopoly.
D) patent monopoly.
C
Economics
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The supply curve of a price-taker firm in the short run is the:
a. firm's average variable cost curve. b. portion of the firm's average total cost curve that lies above average variable cost curve. c. portion of the firm's marginal cost curve that lies above average variable cost curve. d. firm's marginal revenue curve.
Economics
What does scarcity have to do with the fact that people must make choices?
What will be an ideal response?
Economics