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Natural Monopoly
A market condition where due to high fixed costs or unique resources, one firm can supply the entire market more efficiently than if there were multiple firms.
Total Demand
Total demand represents the entire quantity of a particular good or service that all consumers in a market are willing to purchase at various price points over a specific time frame.
Exclusive Right
A legal authorization to be the sole provider or producer of a particular product or service, or to use a specific piece of intellectual property.
Cable Television
A system of delivering television programming to paying subscribers via radio frequency (RF) signals transmitted through coaxial cables.
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