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

question 41

Multiple Choice

Figure 15-15

Figure 15-15 shows the cost and demand curves for the Erickson Power Company.
-Refer to Figure 15-15.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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