A Natural Monopoly Exists When, Throughout the Range of Market

question 90

Multiple Choice

A natural monopoly exists when, throughout the range of market demand,

• A)average cost is increasing
• B)there are diseconomies of scale
• C)average cost is decreasing
• D)average cost is constant
• E)marginal cost exceeds average cost

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Definitions:

Metaphysical Libertarianism

A philosophical position in the debate on free will which suggests that free will is compatible with metaphysics and that individuals have the power to choose between different possible courses of action unimpeded.

Political Libertarianism

A branch of libertarianism focused on reducing government intervention in personal and economic matters to enhance freedom and autonomy.

Negative Freedom

The concept of freedom defined by the absence of constraints or interference from others, emphasizing what individuals are free from.

Sufficient

Adequate to meet the needs of a situation or a proposed end without needing more.