Franco Has Difficulty Hearing but Also a Problem Identifying the Direction

question 44

Multiple Choice

Franco has difficulty hearing but also a problem identifying the direction and origin of a sound.Franco is experiencing difficulty with

• A)presbycusis.
• B)hearing loss.
• C)sound frontation.
• D)sound localization.

---

Definitions:

Natural Monopoly

A market condition where due to high fixed or start-up costs, efficient service is provided by a single firm instead of multiple competing firms, often seen in utilities sectors.

Fair-Return Price

For natural monopolies subject to rate (price) regulation, the price that would allow the regulated monopoly to earn a normal profit; a price equal to average total cost.

Allocatively Efficient

A state of resource allocation in which it is impossible to make any one individual better off without making someone else worse off.

Socially Optimal Price

The price of a good or service that reflects the external costs and benefits to society, aiming to achieve the most efficient allocation of resources.