$\text { Tesla Car Cleaning has the following accounts: }$

question 32

Essay

$\text { Tesla Car Cleaning has the following accounts: }$$\begin{array}{ll}\text { Accounts Receivable } & \text { Notes Payable } \\\text { Accounts Payable } & \text { Owner's Capital } \\\text { Cash } & \text { Owner's Drawing } \\\text { Supplies } & \text { Equipment }\\\\\text { Identify which items are }&\text {(1) Assets }\\&\text { (2) Liabilities}\\&\text {(3) Owner's Equity }\end{array}$

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Definitions:

Natural Monopoly

A market condition where a single firm can supply a good or service to an entire market at a lower cost than what two or more companies could.

Least Cost

Refers to the most cost-effective method of producing a given level of output without sacrificing quality.

Horizontal Market

A market that meets a specific need across multiple industries, rather than being confined to a particular sector.

Natural Monopoly

A type of monopoly that arises due to high fixed or start-up costs associated with the business, making it efficient for only one provider to serve the entire market.