When Economies of Scale Limit the Number of Firms in an Industry

question 183

Multiple Choice

When economies of scale limit the number of firms in an industry to 3,there is a

• A) natural monopoly.
• B) natural oligopoly.
• C) legal oligopoly.
• D) legal cartel.
• E) natural monopolistic competition.

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Definitions:

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The effective application of skills and knowledge gained through training to the workplace or job functions.

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