If the Efficient Scale of Production Only Allows Three Firms

question 79

Multiple Choice

If the efficient scale of production only allows three firms to supply a market,the market is a

• A)three-firm monopoly.
• B)cost-based oligopoly.
• C)natural oligopolgy.
• D)monopolistic competition.
• E)competitive monopoly.

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Definitions:

Playa

A shallow, closed basin in a generally dry environment.

Alluvial Fan

A fan or cone-shaped deposit of sediment built up by streams, typically found where a fast-flowing river flattens, slows, and spreads typically at the mouth of a canyon.

Desert Wash

A sandy or gravel-rich channel in a desert or other arid region.

Alluvial Fan

A fan-shaped deposit formed where a fast-flowing stream flattens, slows, and spreads out sediment at the base of mountains.