For a monopoly to be ________, the firm must realize economies of scale at a scale that is close to total demand in the market.

As consumption increases, total utility increases

A) at an increasing rate. B) at a decreasing rate. C) at a constant rate. D) and marginal utility increases.

In the 1970s, long lines at gas stations in the United States were primarily a result of the fact that

a. OPEC raised the price of crude oil in world markets. b. U.S. gasoline producers raised the price of gasoline. c. the U.S. government maintained a price ceiling on gasoline. d. Americans typically commuted long distances.