A Natural Monopoly Has Small Fixed Costs,which Allows It to Produce

question 43

True/False

A natural monopoly has small fixed costs,which allows it to produce at lower cost than can potential competitors.

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Definitions:

Theoretical Explanation

An attempt to clarify or account for a phenomenon by constructing a theoretical framework detailing the cause and effect relationships.

Science and Technology

The interconnected realms of systematic knowledge obtained through observation and experiment, and the practical application of such knowledge to improve human lives and the environment.

Improve Everyone's Life

The endeavor or action aimed at enhancing the living conditions and overall well-being of every individual in a community or society.

Marxist

Pertaining to the political and economic theories of Karl Marx and Friedrich Engels, which advocate for the class struggle against capitalism leading to a society where property is publicly owned.