A competitive firm operating in the short run is maximizing profits and just breaking even. Its costs include a monthly license fee of $150 that is imposed by the state and must be paid for as long as the firm is in existence. The license fee is now increasedto $200. In the short run, the profitmaximizing firm should: a. not change outputb. increase price. c.increase outputd. reduce output

Which (if any) of the following scenarios is the result of a natural monopoly? instructions: you may select more than one answer. a. patent holders of genetically modified seeds are permitted to sue farmers who save seeds from one planting season to the next. b. doctors in the united states are prohibited from practicing without a medical license. c. there is one train operator with service from baltimore to philadelphia. d. coal is used as the primary energy in a country with abundant coal deposits.