A Natural Monopoly Is Most Likely to Occur in Which

question 42

Multiple Choice

A natural monopoly is most likely to occur in which of the following industries?

• A)the pharmaceutical industry because the development and approval of new drugs through the Food and Drug Administration can take more than 10 years
• B)the diamond mining and marketing industry because one firm can control a key resource
• C)the software industry because of the importance of network externalities
• D)an industry where fixed costs are very large relative to variable costs

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Definitions:

Self-actualize

The process by which individuals realize their full potential and capacities, often considered the highest level of psychological development in Maslow's hierarchy of needs.

Child-rearing Practices

The behaviors, strategies, and actions employed by caregivers to support and guide the development of children.

Saintly Attitude

An approach to life characterized by virtuousness, altruism, and a disposition to act in a morally exemplary manner.

Self-actualized

Refers to the realization of one's potentialities, including creativity and the pursuit of meaningful goals, as the highest form of psychological development.