An Industry in Which Total Costs Are Kept to a Minimum

question 159

Multiple Choice

An industry in which total costs are kept to a minimum because only one firm serves the whole market is called a:

• A) natural monopoly.
• B) competitive monopoly.
• C) patent monopoly.
• D) limit monopoly.

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Definitions:

Nursing Model

A conceptual framework designed to guide nursing practice, emphasizing holistic care and the relationship between nurse, patient, and environment.

Influenced

Being affected or changed in behavior, attitude, or decision-making by external factors, individuals, or societal norms.

Role Function

The behavior expected of an individual in a particular social position or status.

Interdependence

A mutual reliance between two or more groups, organisms, systems, or entities for benefits, survival, or functioning.