Figure 10-15 Figure 10-15 Shows the Cost and Demand Curves

question 129

Multiple Choice

Figure 10-15
Figure 10-15 shows the cost and demand curves for the Erickson Power Company.
-Refer to Figure 10-15.Erickson Power is a natural monopoly because

• A) it is a power company and all power companies are natural monopolies.
• B) average total cost is still declining when it intersects demand.
• C) of its continually declining marginal revenue curve as output rises.
• D) its marginal cost lies entirely below its long-run average cost.

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