When a firm's average total cost curve continually declines, the firm is a ( )
A: government-created monopoly.
B: natural monopoly.
C: revenue monopoly.
D: All of the above are correct.
A: government-created monopoly.
B: natural monopoly.
C: revenue monopoly.
D: All of the above are correct.
举一反三
- Refer to Figure 10.3. In the long run this monopoly firm's profit will:
- Monopoly maximizes its profit mainly rely on its ___. A: demand curve B: cost curve C: supply curve D: demand curve and cost curve
- When economic profit is positive, A: total revenue exceeds total economic cost. B: the firm’s owners have successfully solved the principle-agent problem. C: the firm’s owners experience an increase in their wealth. D: both a and c E: all of the above
- In a monopoly, the market demand curve is:
- ______ have single firm in the industry. A: Perfect competition B: Monopoly C: Oligopoly D: Monopolistic competition