A natural monopoly exists when
a. economies of scale are negligible
b. there are a few dominant firms that corner the market
c. one firm can produce the market output at lower average cost than two or more firms can
d. barriers to entry are low
e. only a few firms can minimize cost and maximize profit
C
Economics
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Some examples of standardized products include
a. furniture products, such as chairs and tables b. clothing products, such as shirts and jeans c. agricultural products, such as eggs and milk d. electronic products, such as DVD players and TVs
Economics
Of the following interest rates, which is the highest one at which the present value of $200 ten years from today is greater than $150?
a. 2 percent b. 4 percent c. 6 percent d. 8 percent
Economics