In a Natural Monopoly,the Long-Run Average Cost Curve

Multiple Choice

In a natural monopoly,the long-run average cost curve

A) is downward sloping in the relevant range of output levels.
B) is horizontal in the relevant range of output levels.
C) is upward sloping in the relevant range of output levels.
D) may be either upward sloping or downward sloping in the relevant range of output levels.
E) lies below the marginal cost curve.