Which of the following average cost functions suggests the presence of a natural monopoly? A. AC = StartFraction 100 Over Upper Q EndFraction + 2 B. AC = 2 C. TC = StartFraction 100 Over Upper Q EndFraction + 2Q D. All of the above.

Burberry is pursuing a focused differentiation strategy aimed at high-end luxury customers. however, the company is also employing a segmentation strategy to separate customers within that focus. the strategy offers items at an entry-level price point for customers who desire to be like celebrities such as sarah jessica parker as well as couture items for those richest and celebrity customers. what strategy is burberry pursuing?

In a perfectly competitive market, the long-run market supply curve tends to be horizontal or nearly so. what is another way to state this fact? (a) market supply is much more elastic in the long run than the short run. (b) in the long run, average total cost is minimized. (c) in the long run, price equals marginal cost. (d) market supply is much less elastic in the long run than the short run.

If a government accumulates chronic budget deficits over time, what's one possible result? a. a collective action problem b. a debt crisis c. regulatory capture d. an unfunded liability