Each Question Below Is a Plan for a Narrative Paragraph

question 11

Multiple Choice

Each question below is a plan for a narrative paragraph. The events in the plans are not in the correct chronological order. Select the letter of the answer that numbers the events in the proper time sequence. Aesop's fable about a dog and his reflection teaches a lesson about greed.
____ In the reflection, he thought he saw another dog with another piece of meat in his mouth, so he decided to get that one, too.
____ Now the dog had nothing at all to eat.
____ A dog was happily carrying a piece of meat in his mouth and came to a bridge he had to cross.
____ While crossing the bridge, he saw his reflection in the water of a running brook.
____ When he snapped at the reflection, the meat dropped from his mouth into the water and sank.

• A) 2, 1, 5, 4, 3
• B) 3, 5, 1, 2, 4
• C) 4, 2, 3, 1, 5

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Definitions:

Natural Monopoly

A market condition where due to high fixed or startup costs, a single firm can supply a good or service to an entire market at a lower cost than multiple companies.

Network Effects

Increases in the value of a product to each user, including existing users, as the total number of users rises.

Price Discrimination

The strategy of selling the same product to different customers at different prices based on willingness to pay, rather than differences in production costs.

"Fair Return" Price

A price set at a level intended to allow a firm to cover its costs and earn a reasonable profit, often regulated in public utility sectors.