Examlex
A(n) ____ is a type of plan designed to implement tactical plans.
Barriers to Entry
Factors that prevent or impede the ability of a new competitor to enter and operate in an industry.
Monopoly
An economic condition where only one seller offers a distinctive product in the marketplace, with no similar alternatives available.
Natural Monopoly
A market condition where due to high fixed or start-up costs, efficient service is provided by a single firm instead of multiple competing firms, often seen in utilities sectors.
Fair-Return Price
For natural monopolies subject to rate (price) regulation, the price that would allow the regulated monopoly to earn a normal profit; a price equal to average total cost.
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