An Industry That Realizes Such Large Economies of Scale in Producing

question 285

Multiple Choice

An industry that realizes such large economies of scale in producing its product that single-firm production of that good or service is most efficient is called a(n) ________ monopoly.

• A) fixed cost
• B) economies of scale
• C) patent
• D) natural

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Definitions:

Eyes

Organs of vision that detect light and convert it into electro-chemical impulses in neurons, enabling sight.

Emotional Intelligence

The ability to recognize, manage, and articulate one's feelings, as well as to conduct oneself wisely and compassionately in dealings with others.

Understand Emotions

The ability to recognize, interpret, and respond to the emotions of oneself and others.

Making Decisions

The cognitive process of choosing between different alternatives or options.