Which of the Following Statements Is (Are) TRUE

question 101

Multiple Choice

Which of the following statements is (are) TRUE?
I. A natural monopoly owes its existence to economies of scale.
II. In contrast to a monopoly industry, industries served by natural monopolies have no barriers to entry.
III. Natural monopolies have cost structures characterized by small fixed costs and steeply rising marginal costs.

• A) I and II
• B) I
• C) III
• D) II and III

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Definitions:

Positioning

The strategy of creating a distinct image and identity for a product or brand in the minds of the target market, distinguishing it from competitors.

Marketing Mix Variables

Refers to the four key elements involved in marketing a product or service: product, price, place, and promotion, used to meet and influence the consumer's decision-making process.

Positioning

The strategy of placing a brand or product in a particular segment of a market to be viewed in a desired way by consumers.

Photographic Equipment

Tools and devices such as cameras, lenses, tripods, and lighting gear used in the capture of photographs.