A Natural Monopolist Generally Has _____ Costs and Substantial _____

question 55

Multiple Choice

A natural monopolist generally has _____ costs and substantial _____ of scale.

• A) low fixed; diseconomies
• B) high fixed; economies
• C) low variable; diseconomies
• D) high variable; economies

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Definitions:

Abstraction

The process of reducing complexity by focusing on the essential characteristics of something, often used in art and programming.

Non-Material Production

The creation of services, ideas, or experiences rather than physical goods.

Fitness Maximization

An evolutionary biology principle where organisms are believed to evolve in ways that maximize their genetic fitness or ability to reproduce successfully.

Selective Management

A strategy in management focusing on prioritizing and targeting resources and efforts on key areas or activities to maximize effectiveness and efficiency.