If a Single Firm Can Meet the Entire Market Demand

question 362

Multiple Choice

If a single firm can meet the entire market demand at a lower average total cost than a larger number of smaller firms,the single firm is

• A) price discriminating.
• B) a natural monopoly.
• C) a legal monopoly.
• D) efficient when profit maximizing.
• E) an ownership-of-the-market monopoly.

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Definitions:

Sample

A subset of individuals or items selected from a larger population for the purpose of statistical analysis.

Represent

To symbolize or stand in for something, especially in the context of data or statistical analysis.

Whole

A term often used in mathematics and statistics to represent an entire data set or population.

Portion

A part of a whole, often expressed as a fraction or percentage.