When Is a Natural Monopoly Likely to Arise

question 133

Multiple Choice

When is a natural monopoly likely to arise?

• A) when a firm controls a crucial input to production
• B) when economies of scale exist over the relevant range of demand
• C) when the government restricts entry through licensing
• D) when patents provide protection of intellectual property

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Definitions:

Impression Management

The practice of consciously making efforts to control or influence the perceptions of others about a person, object, or event.

Self-Promotion

The act of marketing oneself to others to improve visibility, credibility, and career opportunities.

Impression Management

The process by which people attempt to control the perceptions others have of them.

Exemplification

The act of showing or illustrating by example.