A Natural Monopoly Refers To

question 26

Multiple Choice

A natural monopoly refers to:

• A)Any monopoly based on natural resources.
• B)Any monopolized market.
• C)A monopolized market where the barriers to entry are not structural.
• D)A market for which the total cost incurred by a single firm producing that output is less than the combined total cost of two or more firms producing the same total output between them.

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Definitions:

Accuracy

The extent to which the outcome of a measurement, calculation, or specification aligns with the accurate value or a norm.

Performance Rating

An assessment of how well an individual, group, or system performs against defined criteria or objectives.

Normal

Pertaining to something that conforms to a standard or a pattern that is usual, typical, or expected.

Trained Employee

An individual who has received instruction and practice in a particular skill or type of behavior for the workplace.