When a firm experiences positive economic profits over the long run,
A) Technical efficiency cannot be achieved.
B) The firm must be a natural monopoly.
C) Allocative efficiency cannot be achieved.
D) Equity may not be achieved.
Correct Answer:
Verified
Q23: An unregulated natural monopoly can lead to
A)Higher
Q26: To maximize profit,a natural monopolist produces the
Q27: The long-run average total cost curve of
Q29: Marginal cost pricing means that a firm
Q31: If the government wants a natural monopolist
Q33: If a natural monopoly is forced to
Q48: Government failure occurs when
A)Dealing with a natural
Q49: A natural monopoly can purposely increase its
Q54: Output regulation for a natural monopolist
A)May require
Q58: Suppose the quality of service provided by
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