If you see that a firm's marginal revenue curve is downward sloping, you can infer that it is a

Consumer surplus is the difference between what the producer actually receives for a good and what the producer is willing to receive

a. True b. False Indicate whether the statement is true or false

Which of the following is correct about natural monopoly?

a. Natural monopoly exists when a firm has an upward-sloping long-run average cost curve. b. A natural monopoly arises if a particular firm is able to sell each unit of its output at a different price. c. A natural monopoly arises when a single firm has a cost advantage over smaller potential entrants. d. A natural monopoly is created by government patents, licenses, and legal barriers to entry.