Figure 15-1 -Refer to Figure 15-1.Which of the Following Statements About the Following

question 222

Multiple Choice

Figure 15-1

-Refer to Figure 15-1.Which of the following statements about the firm depicted in the diagram is true?

• A)The fact that this firm is a natural monopoly is shown by the long-run average total cost curve still falling when it crosses the demand curve.
• B)The fact that this firm is a natural monopoly is shown by the continually declining market demand curve as output rises.
• C)The fact that this firm is a natural monopoly is shown by the continually declining marginal revenue curve as output rises.
• D)The fact that this firm is a natural monopoly is shown by the fact that marginal cost lies below the long-run average total cost where the firm maximizes its profits.

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Definitions:

Investment Inventory

A list or record of all investments held by an individual or company, including stocks, bonds, and other assets.