_______ Is a Monopoly That Exists in an Industry Where

question 59

Multiple Choice

_______ is a monopoly that exists in an industry where the large economies of scale acts as its barrier to entry.

• A)A natural monopoly
• B)A monopolistic competitor
• C)A regulated monopoly
• D)A price discriminator

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Definitions:

Capitalistic Economic System

An economic system where trade and industry are controlled by private owners for profit, rather than by the state.

Private Individuals

Non-governmental persons who engage in economic transactions or investments on their own behalf.

Former Soviet Union

A federal socialist state in Northern Eurasia that existed from 1922 to 1991, comprising multiple subnational Soviet republics.

Consumer Goods

Items bought and used by consumers, rather than by manufacturers for producing other goods.