An Industry Is a Natural Monopoly When (I)

question 11

Multiple Choice

An industry is a natural monopoly when (i)
The government assists the firm in maintaining the monopoly.
(ii)
A single firm owns a key resource.(iii)
A single firm can supply a good or service to an entire market at a smaller cost than could two or more firms.

• A)(ii) only
• B)(iii) only
• C)(i) and (ii) only
• D)(ii) and (iii) only

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Definitions:

Popular Thinking

The common or widespread thoughts, beliefs, or opinions held by the majority of people in a society.

Liberal Feminism

A branch of feminism that emphasizes the power of individual change to overcome social inequalities, particularly those regarding women's freedoms and rights.

Equal Environments

This concept suggests that individuals in the same environment are exposed to the same conditions, minimizing differences due to environmental variables.

Discrimination

Unjust or prejudicial treatment of different categories of people, especially on the grounds of race, age, or sex.