Refer to the Information Provided in Figure 13

question 179

Multiple Choice

Refer to the information provided in Figure 13.8 below to answer the question that follows. Figure 13.8
-Refer to Figure 13.8. The only firm producing electricity has the long-run average total cost curve shown. The total amount of demand for kilowatts is 100,000 per hour. It makes economic sense for this firm to be the only producer of electricity because this firm

• A) must be realizing economies of scale in producing electricity.
• B) must have a patent on the production process necessary to produce electricity.
• C) must have control over a scarce factor of production.
• D) must have a government franchise to produce electricity.

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The stage in cognitive development, according to Piaget, where children gain the ability to think logically about concrete events and objects.

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