When a Single Firm Has Control Over the Market Supply

question 12

Multiple Choice

When a single firm has control over the market supply of a resource that is essential to the production of a good,

• A) economies of scale are usually important.
• B) monopoly is frequently the result.
• C) diseconomies of scale are the usual cause.
• D) competition for the resource makes monopoly almost impossible

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Definitions:

Centrosome

An organelle near the nucleus in the cell cytoplasm, playing a key role in cell cycle progression and mitosis as the main microtubule organizing center.

Membrane Potential

The voltage difference across a cell's plasma membrane, crucial for the conduction of electrical impulses in nerve, muscle cells, and for cellular homeostasis.

Ion Concentrations

The measure of the amount of specific ions in a solution, crucial for processes such as nerve impulse transmission and muscle contraction.

Electrical Charge

A fundamental property of matter that causes it to experience a force when placed in an electromagnetic field, typically described as positive or negative.