What kind of market runs most efficiently when one large firm supplies all of the output?
a) a natural monopoly
b) a network
c) perfect competition
d) imperfect competition
Ans: a) a natural monopoly
Economics
You might also like to view...
To be a successful entrepreneur requires willingness to
a. play it safe b. borrow money c. take risks d. abandon your family
Economics
A bond has a face value of $10,000, a price of $12,000, and coupon payments of $2000 for two years. The current yield of this bond is
A) 10%. B) 16.7%. C) 20%. D) 30%. E) none of the above
Economics