A Natural Monopoly's Average Cost Curve I

question 257

Multiple Choice

A natural monopoly's average cost curve i. intersects the demand curve while the average cost curve slopes downward.
Ii. reaches its minimum before it intersects the demand curve.
Iii. intersects the demand curve below the intersection of the marginal cost curve and the demand curve.

• A)i only
• B)ii only
• C)iii only
• D)i and iii
• E)i, ii, and iii

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