Examlex
Which of the following is not classified as an operating activity?
Natural Monopolist
A single firm that can supply a good or service to an entire market at a lower cost than could two or more firms, leading to a natural monopoly situation.
LRAC Curve
The Long-Run Average Cost curve, showing the lowest average cost at which a firm can produce any given level of output in the long run when all inputs are variable.
Patents
Legal documents granting an inventor exclusive rights to produce, use, and sell an invention for a certain period of time.
Research And Development
The investigative activities a business or government engages in to improve existing products and procedures or to lead to the development of new products and procedures.
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