The Defining Characteristic of a Natural Monopoly Is

question 137

Multiple Choice

The defining characteristic of a natural monopoly is

• A) positive economic profit.
• B) that average cost always exceeds marginal cost.
• C) that marginal cost always exceeds average cost.
• D) diseconomies of scale.
• E) that marginal revenue always equals price.

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Definitions:

Voluntarism

Refers to the principle or system that relies on voluntary action, especially in the context of social or economic matters, rather than compulsory measures enforced by the government.

Institutionalized system

A well-established and widely accepted system that operates according to formal rules and norms within a particular context.

Employee voice

The ways in which workers can express their opinions, concerns, and suggestions regarding workplace decisions and policies.

Mexican workers

Individuals from Mexico who engage in employment, whether within Mexico itself or abroad as part of the global workforce.