When a firm has a natural monopoly, the firm's
a. marginal cost always exceeds its average total cost.
b. total cost curve is horizontal.
c. average total cost curve is downward sloping.
d. marginal cost curve must lie above the firm's average total cost curve.
c
Economics
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The largest component of the money supply (M1) is:
A. currency in bank vaults. B. currency in circulation. C. checkable deposits. D. stock certificates.
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Why do economists consider perfect competition to be the most efficient market structure?
What will be an ideal response?
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