Question 13 (1 point) Question 13 Unsaved A natural monopoly: Question 13 option
ID: 1238022 • Letter: Q
Question
Question 13 (1 point)Question 13 Unsaved
A natural monopoly:
Question 13 options:
has decreasing long-run average total costs over a very large range of output.
has decreasing long-run marginal costs over a very large range of output.
has economies of scale over a very large range of output.
all of the above.
Question 14 (1 point)
Question 14 Unsaved
If we were to compare the amount produced by Firms in a competitive industry to the output produced by a
monopoly, the monopolist will produce:
Question 14 options:
on the inelastic portion of the demand curve but at a higher price.
the same quantity but would make profits because of economies of scale.
on the elastic portion of the demand curve and charge a higher price.
on the inelastic portion of the demand curve because the monopolist would make the entire
demand curve inelastic.
Explanation / Answer
has decreasing long-run average total costs over a very large range of output.
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