The 911 Emergency Telephone Number System Was Introduced by AT&T

question 48

Multiple Choice

The 911 emergency telephone number system was introduced by AT&T in:

• A)1968
• B)1945
• C)1985
• D)1986

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Definitions:

Natural Monopolist

A single supplier that can serve the entire market at a lower cost than two or more competing suppliers.

Maximum Price

A price ceiling set by the government to prevent prices from soaring to levels that are too high for most consumers to afford.

Profit-maximizing Level

The output level at which a firm achieves the highest profit, where marginal cost equals marginal revenue.

Pure Monopolist

A single seller in a market that produces a unique product or service without close substitutes, controlling the entire supply.