For a Natural Monopoly, Long-Run Average Costs

question 83

Multiple Choice

For a natural monopoly, long-run average costs

• A) fall as output increases.
• B) rise as output increases.
• C) fall as output falls.
• D) rise as output falls.

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Definitions:

Monarchical Government

A form of government where a monarch (king, queen, emperor) holds sovereign authority until death or abdication, often inheriting their position by birth.

Liberty

The state of being free within society from oppressive restrictions imposed by authority on one's way of life, behavior, or political views.

Greatest Threat

The largest or most severe danger or challenge facing an individual, group, or institution.

Iroquois Confederacy

A historic union of six Native American tribes living in the northeastern United States, known for their democratic governing system.