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solve all clearly with explanation needed 5. Suppose a hospital in a small isolated town has a natural monopoly. With the idea of increasing competition,

solve all clearly with explanation needed

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5. Suppose a hospital in a small isolated town has a natural monopoly. With the idea of increasing competition, the city opens a second hospital. ( A ) a. Both hospitals will have higher average total cost than the first hospital did when it operated alone. b. Both hospitals will have lower average total cost than the first hospital did when it operated alone. c. Both hospitals will have the same average total cost as the first hospital when it operated alone. d. The new hospital will have higher average total cost than the first hospital did when it operated alone, but the average total cost for the second hospital will be less. 6. The demand curve for an individual firm's output is ( D ) a. downward sloping for both a competitive firm and a monopoly. b. horizontal for both a competitive firm and a monopoly. c. downward sloping for a competitive firm and horizontal for a monopoly. d. horizontal for a competitive firm and downward sloping for a monopoly. 7. The marginal revenue of a monopoly is ( D ) a. greater than price. b. greater than price for low levels of output, but less than price at higher levels of output. c. equal to price. d. less than price. 8. The average revenue of a monopoly is ( C ) a. greater than price. b. greater than price for low levels of output, but less than price at higher levels of output. c. equal to price. d. less than price. 9. To maximize profits, a monopolist produces the quantity where ( D ) 'I a 1:1

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