Q1. Which of the following is least likely to be considered a reason for the existence of a natural monopoly? Firms: A) that can maximize profit when price equals marginal cost. B) that have significant economies of scope. C) for which average total cost decreases over the entire range of industry demand.
Q2. In a natural monopoly: A) the average total cost of production continually declines with increased output. B) one firm controls all natural resources. C) the price charged by a monopolist is determined by the intersection of the demand curve with the marginal cost curve.
Q3. In a natural monopoly: A) the price charged by a monopolist is determined by the intersection of the demand curve with the marginal cost curve. B) the average total cost of production continually declines with increased output. C) one firm controls all natural resources.
Q4. Which of the following statements regarding monopolies is least accurate? A) Monopolists will try to get favorable treatment from the government called rent seeking. B) Inefficient producers are able to survive. C) Due to the law of diminishing returns, natural monopolies exhibit an upward sloping average total cost curve.
Q5. Which of the following statements regarding monopolies is least accurate? A) Inefficient producers are able to survive. B) Due to the law of diminishing returns, natural monopolies exhibit an upward sloping average total cost curve. C) Monopolists will try to get favorable treatment from the government called rent seeking.
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发表于 2009-1-14 13:53
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