If Your Farm Has the Only Known Source of a Rare

question 134

Multiple Choice

If your farm has the only known source of a rare cocoa bean needed to make chocolate-covered peanuts, your monopoly would result from:

• A) sunk costs.
• B) location.
• C) restricted ownership of inputs.
• D) government restrictions.

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Definitions:

Primacy Effect

The tendency to remember information at the beginning of a list better than information in the middle or at the end.

Recency Effect

A cognitive bias that inclines individuals to remember and give greater importance to the most recent information or experiences.

Memory Trace

A theoretical concept suggesting that memories are stored in the brain as physical or chemical changes.

Brain Structure

The physical form and organization of different parts of the brain, including lobes, hemispheres, and neural networks.