When a Single Firm Can Supply a Product to an Entire

question 13

Multiple Choice

When a single firm can supply a product to an entire market at a lower cost than could two or more firms, the industry is called a

• A)resource industry.
• B)exclusive industry.
• C)government monopoly.
• D)natural monopoly.

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Definitions:

Race Crossover

A phenomenon where the relative mortality rates of race or ethnic groups change positions over time or age.

Activity Theory

A psychological and sociological theory that suggests older adults are happier and more satisfied if they remain engaged in activities and maintain social interactions.

Gender Stratification

Is the unequal distribution of wealth, power, and privilege across genders within a society.

Biological Perspective

A way of looking at psychological issues by studying the physical basis for animal and human behavior.