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Erin Brockovich, a movie that features Julia Roberts, examines a true-life event that revolved around environmental pollution in a working-class community by a major utility corporation that was apparently unconcerned about the long-term effects of the pollution on community residents. This movie illustrates which sociological concept?
Minimum Efficient Scale
The smallest amount of production a company can achieve while still taking full advantage of economies of scale regarding cost per unit.
Natural Monopoly
A type of monopoly that exists due to the high fixed or start-up costs of operating a business in a specific industry, making it inefficient for new firms to enter.
Limited Market
A market with restrictions on the scope of products or services that can be sold or on who can participate as buyers or sellers.
Pure Monopolists
Firms that are the sole provider of a product or service with no close substitutes, granting them significant control over market price.
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