A natural monopoly has a declining _______ over a large range of output?

Related Mcqs:

Suppose both buyers and sellers of wheat expect the price of wheat to rise in the near future. What would we expect to happen to the equilibrium price and quantity in the market for wheat today ?

A. The impact on both price and quantity is ambiguous B. Price will decrease, quantity is ambiguous. C. price will increase, quantity will decrease D. price will increase, quantity is ambiguous. E. Price will increase, quantity will increase...

Economists use the term Black Markets for situations where ?

A. goods are sold at prices above legal or official price. B. buyers and/or sellers are not paying taxes as they should C. illegal substances are sold D. transactions are not recorded in the GDP figures....

Externalities arise because there is a divergence between ________ and _________?

A. private costs, private benefits B. private costs, social costs or benefits C. social costs, social benefit D. insiders, outsiders...

Agricultural prices tend to be unstable because ?

A. Supply is price elastic B. Demand is price elastic C. Supply is stable D. Demand and supply are price inelastic...

Market failure may arise because of ?

A. imperfect competition B. taxation C. externalities D. missing markets E. all of the above...