A Firm That Realizes Minimum Average Costs at an Output

question 1

Multiple Choice

A firm that realizes minimum average costs at an output rate sufficient to satisfy the entire market is an example of

• A) monopolistic competition.
• B) natural monopoly.
• C) nonprice competition.
• D) the crowding-out effect.
• E) supply-side economics.

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The act of dividing and distributing resources or experiences among individuals or groups.

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The practice of taking someone else's work or ideas and passing them off as one's own.

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A legal entity created under state law that is separate from its shareholders and has its own rights and liabilities.