The Most Important Feature of a Natural Monopoly Is

question 3

Multiple Choice

The most important feature of a natural monopoly is:

• A)constant returns to scale over the relevant range of output
• B)it exploits a natural resource
• C)diseconomies of scale over the relevant range of output
• D)economies of scale over the relevant range of output

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Definitions:

Homogeneity of Tastes

A market condition where consumers have similar preferences or desires for products and services.

Corporate Culture

The shared values, beliefs, and practices that inform the way people within an organization interact and work.

Global Scale

Operating or considering operations and impacts over large geographic areas, often worldwide.

World Market

A global arena for the exchange of goods, services, and financial instruments among countries.