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Lily just lost the final draft of her term paper-she had saved it on her hard drive, but then she spilled soda on her laptop and tech support wasn't able to recover any data. What is a cloud-based storage system that Lily could have used instead to back up her documents?
Natural Monopoly
A market situation in which a single company can provide goods or services at a lower cost than any competitor, often due to economies of scale.
Average Total Cost
The total cost of production divided by the number of units produced, used to analyze cost behaviors in economics.
Producer Surplus
The difference between the amount producers are willing and able to sell a product for and the actual amount they receive, often representing profit.
Total Surplus
The total net gain for society derived from the creation and utilization of goods or services, calculated as the combined value of consumer and producer surplus.
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