If There Is Only One Provider of Electricity in a City

question 12

Multiple Choice

If there is only one provider of electricity in a city, then that market is likely to fail due to:

• A) public ownership of resources.
• B) external benefits.
• C) lack of competition.
• D) asymmetric information.

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Definitions:

Critical Path

The longest sequence of dependent tasks in a project, determining the shortest possible duration to complete the project.

Variance

A statistical measurement of the dispersion or spread in a set of data points, reflecting how much the numbers differ from each other and from the mean.

Probability

The measure of the likelihood that an event will occur, quantified as a number between 0 and 1, with 1 indicating certainty.