The Defining Characteristic of a Natural Monopoly Is

question 290

Multiple Choice

The defining characteristic of a natural monopoly is

• A)constant marginal cost over the relevant range of output.
• B)economies of scale over the relevant range of output.
• C)constant returns to scale over the relevant range of output.
• D)diseconomies of scale over the relevant range of output.

---

Definitions:

Sewing Industry

A sector of the economy that involves the production of clothing, textiles, and related goods, often employing manual labor and sewing machines.

Water Power

The energy derived from flowing or falling water, traditionally used for mechanical tasks, like grinding grain, and now for generating electricity.

Northeast

A region in the United States consisting of the northeastern states, known for its distinct seasons and populous cities.

Southeast

A geographical region of the United States, located to the southeast of the country, known for its distinctive cultural heritage and history.