A Natural Monopoly Has

question 19

Multiple Choice

A natural monopoly has

• A)one buyer of output.
• B)a single firm providing the entire industry output.
• C)many producers of the same product.
• D)easy access to the market.

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Definitions:

Garbage In, Garbage Out

A principle in computing and information sciences that suggests the quality of output is determined by the quality of the input data.

Double-Entry Bookkeeping System

An accounting methodology that records each transaction twice, as both a debit and a credit, to ensure the accounting equation balances.

Single-Entry System

An accounting method where each transaction is recorded in a single account, offering a simplistic view of finances.

Data Entry

The process of inputting information or data into a computer system or database.