A Natural Monopoly Arises When

question 238

Multiple Choice

A natural monopoly arises when

• A)there are constant returns to scale over the relevant range of output.
• B)there are economies of scale over the relevant range of output.
• C)one firm owns a key natural resource.
• D)the government gives a single firm the exclusive right to produce a particular good or service.

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Definitions:

Diverse Workforce

The inclusion of individuals from a variety of backgrounds, cultures, ages, genders, and experiences in a workplace, enhancing creativity and solving.

Localizing Operations

The process of adjusting a business's operations, products, or services to match the specific cultural, legal, or market requirements of a local region.

North American Free Trade Agreement

A trade agreement eliminating tariffs and other trade barriers between the United States, Canada, and Mexico.

Tariffs

Taxes imposed on imported goods and services, which can affect trade dynamics between countries.