Examlex
Which of the following types of owners' equity transactions would NOT require authorisation by the board of directors?
Long Run
A period of time in economics during which all factors of production and costs are variable, allowing for all possible adjustments, including changes in industry size.
Natural Monopoly
A market structure where a single firm can produce the entire market supply of a particular good or service at a lower cost than any potential competitor.
Network Effects
Network effects occur when the value of a product or service increases as more people use it, making it more attractive and beneficial to users.
Simultaneous Consumption
The same-time derivation of utility from some product by a large number of consumers.
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