Resolved Question

58. A decrease in production costs for firms in a perfectly competitive market will cause a(n) ______. (Points: 3)
permanent increase in price
economic profit for firms in the short run
increase in demand
increase in firms' marginal revenue

69. A natural monopoly exists whenever a single firm ______. (Points: 3)
is owned and operated by the federal or local government
is investor owned but has been granted the exclusive right by the government to operate in a market
confronts economies of scale over the entire range of production that is relevant to its market
has gained control over a strategic input of an important production process

70. If your local government gives you the exclusive right to sell breakfast bagels in your community, your monopoly would result from ______. (Points: 3)
sunk costs
location
economies of scale
government restrictions

At a guess:

58. Increase in economic profit for firms in the short-run.

69. (I think you meant 'controls' not 'confronts') economies of scale over the entire range of production that is relevant to its market.

70. Government restricitions