In the Figure, D Is the Demand Curve for Taxi

question 71

Multiple Choice

In the figure, D is the demand curve for taxi rides in a town, and ATC is the average total cost curve of a taxi company.
-In the scenario above, the market is:

• A) A natural duopoly.
• B) A natural oligopoly with three firms.
• C) A natural monopoly.
• D) Monopolistically competitive.

Record and analyze business transactions and their effects on the accounting equation.

Prepare an owner’s equity statement.

Calculate net income or loss by analyzing changes in owner's equity.

Understand and apply accounting terminology relevant to sole proprietorships.