In a Natural Monopoly,the Long-Run Average Cost Curve

question 66

Multiple Choice

In a natural monopoly,the long-run average cost curve

• A)is downward sloping in the relevant range of output levels.
• B)is horizontal in the relevant range of output levels.
• C)is upward sloping in the relevant range of output levels.
• D)may be either upward sloping or downward sloping in the relevant range of output levels.
• E)lies below the marginal cost curve.

---

Definitions:

Work Repetitive

Tasks or jobs that involve performing the same functions or processes over and over again, often leading to monotony.

Ownership Culture

A working environment where employees have a stake in the success of the business, promoting shared values, goals, and rewards, leading to increased commitment and performance.

Balanced Scorecards

A strategic planning and management system used by organizations to communicate what they are trying to accomplish and to measure and align the performance of their employees.

Profit Sharing Plans

A corporate incentive program where employees receive a portion of the company's profits in addition to their regular salary.