Which of the following statements regarding an average-cost pricing rule for a natural monopoly is WRONG?
A) It sets price equal to average total cost.
B) It is efficient.
C) The firm makes zero economic profit.
D) More output is produced than if the firm maximized profit.
B
Economics
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A disadvantage of the partnership form of business organization is
A) its limited access to capital. B) its limited liability. C) that it can issue only one class of stock. D) that the owners must fight a lot of red tape to form the firm.
Economics
Economic growth is the result of: (check all that apply)
a. improvements in resource quality. b. increases in the supply of resources. c. decreases in the demand for capital goods. d. technological advances.
Economics