When a Single Firm Has Control Over the Market Supply

question 12

Multiple Choice

When a single firm has control over the market supply of a resource that is essential to the production of a good,

• A) economies of scale are usually important.
• B) monopoly is frequently the result.
• C) diseconomies of scale are the usual cause.
• D) competition for the resource makes monopoly almost impossible

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Definitions:

Job-related Stress

The experience of stress, pressure, or strain directly tied to one's employment responsibilities or work environment.

Dynamic

Characterized by continuous change, activity, or progress; often used to describe systems or processes that are in constant evolution.

Type A Personality

A personality type characterized by competitiveness, impatience, aggressiveness, and a strong desire for achievement.

Relaxing

The act of reducing tension or anxiety, often through leisure activities or rest.