_____ Monopoly Occurs When a Single Firm Can Supply a Good

question 106

Multiple Choice

_____ monopoly occurs when a single firm can supply a good at a lower cost than two or more competing firms can.

• A) A natural
• B) A consumer
• C) An extensive
• D) A cartel

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Definitions:

Articles Of Incorporation

A document that must be filed with a secretary of state to create a corporation. Usually, it includes the basic rights and responsibilities of the corporation and the shareholders.

Criminal Guilt

A legal status that results when an individual is found responsible for committing a crime, beyond a reasonable doubt.

Exceeding Authority

Acting beyond the powers or rights granted by a legal or official authority.

Cumulative Voting

A procedure for voting for a corporation’s directors that permits a shareholder to multiply the number of shares he or she owns by the number of directors to be elected and to cast the resulting total of votes for one or more directors. See also straight voting.