A Local Electricity-Generating Company Has a Monopoly That Is Protected

question 182

Multiple Choice

A local electricity-generating company has a monopoly that is protected by an entry barrier that takes the form of

• A)control of a key raw material.
• B)network externalities.
• C)economies of scale.
• D)a perfectly inelastic demand curve.

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Definitions:

Product

The result of multiplying two or more numbers or factors together.

Base

In chemistry, a base is a substance that can accept hydrogen ions or donate an electron pair in reactions.

Result

The outcome or conclusion of a calculation, experiment, or action, indicating the final effect or findings.