What Is a Major Characteristic of a Natural Monopoly

question 8

Multiple Choice

What is a major characteristic of a natural monopoly?

• A) The firm is a single seller of a resource.
• B) The firm sets price equal to marginal revenue.
• C) There is extensive product advertising.
• D) There is a large range of output to which economies of scale apply.
• E) There are major legal restraints preventing other firms from entering the market.

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Definitions:

Color-Blind Racism

A form of racism that ignores racial diversity and promotes the view that all individuals are treated equally, disregarding systemic and historical inequalities.

Race Consciousness

An awareness of one's racial identity and the socio-political implications of race in society, often leading to solidarity or social action among people of the same racial group.

Inequality

The unequal distribution of resources, opportunities, and rights among individuals and groups in a society.

Cultural Appropriation

The adoption or use of elements of one culture by members of another culture, often without permission and/or understanding, which can lead to controversy and debate over issues of respect, identity, and intellectual property.