If an Industry's Demand Conditions Allow at Most One Firm

question 39

Multiple Choice

If an industry's demand conditions allow at most one firm to cover its costs while producing at its MES, this situation is known as

• A) natural economic limits.
• B) limited competition.
• C) declining marginal revenue.
• D) a natural monopoly.
• E) a discriminating monopoly.

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Definitions:

Electrical Wave

A form of energy wave characterized by the movement of electric charges, which can be used in various technological and medical applications.

Fluorescent Screen

A screen that emits visible light when exposed to the radiation of certain wavelengths.

Hysterosalpingogram

An X-ray test that looks at the inside of the uterus and fallopian tubes and the area around them.

Fallopian Tubes

Tubes extending from either side of the uterus towards the ovaries, providing the passage through which an egg travels from the ovary to the uterus.