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If you agree to allow the lender to take your computer in the event you fail to make payments, the loan is which of the following?
Natural Monopoly
A market condition where a single firm can provide goods or services to an entire market at a lower cost than two or more companies could, due to high fixed costs and significant economies of scale.
Economies of Scale
The financial benefits gained by businesses as a result of their operating size, where the cost for each unit produced decreases as the scale of operation grows.
Demand Schedule
A table that shows the quantity of a good or service that consumers are willing and able to purchase at various prices over a specified period.
Marginal Cost
The amount spent on manufacturing one more unit of a product.
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