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Varvara68 [4.7K]
3 years ago
11

There are several bridges along highway 280 which are free to ride on. This bridge was built and is being maintained by the gove

rnment... not the "free" market. Let's think about why that is the case... The economic logic of government ownership and having a marginal price of 0 (that is, it is free to cross the bridge) is:
Business
1 answer:
Oliga [24]3 years ago
3 0

Answer:

The bridge 's owner has a natural monopoly, and the marginal production cost (letting another car drive through it) is close to nil.

Explanation:

Since building several bridges to compete is inefficient, but building one bridge at a lower average cost to customers would be effective. If the private monopolist builds the bridge it can charge customers exceptionally high prices.

There is a high fixed cost involved with constructing a bridge. Hence constructing a bridge is a mere privilege. Furthermore, there is no extra cost to allow another car to cross the bridge. It means that the marginal cost is zero or closer.

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Explanation:

Here is the complete question:

Max Machining incurs the following utilities costs at different levels of production:

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The utility cost here will be classified as a mixed cost. A mixed cost is a type of cost that has both fixed and variable cost. At 0 units, $120 was already spent. This shows that this cost is a fixed cost as it doesn't have anything to do with output. It'll still be paid regardless of the number of outputs while the other cost incurred are variable cost which is dependent on the number of outputs of goods.

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