A Monopoly May Arise Due to

question 34

Multiple Choice

A monopoly may arise due to

• A) a patent.
• B) net work externalities.
• C) large economies of scale.
• D) all of the above.

---

Definitions:

Total Utility

The complete satisfaction or pleasure a consumer derives from consuming a particular quantity of goods or services.

Budget Line

A graphical representation of all possible combinations of two goods that can be purchased with a given budget and prices.

Product Prices

The amount of money required to purchase a good or service, determined by various factors including production costs, demand, supply, and market competition.

Topographical Map

A type of map characterized by large-scale detail and quantitative representation of relief, usually using contour lines.