Refer to Table 1-6. What is Ivan's marginal cost if he decides to stay open for six hours instead of five hours?

A natural monopoly is a firm that owns a key natural resource

Indicate whether the statement is true or false

Which of the following is also known as the firm's planning curve?

a. the average total cost curve b. the total cost curve c. the long-run average cost curve d. the long-run marginal cost curve e. the fixed cost curve