A Firm Is More Likely to Have a Natural Monopoly

question 55

Multiple Choice

A firm is more likely to have a natural monopoly when

• A) the size of the market is small relative to the efficient scale of the firm.
• B) the size of the market is large relative to the efficient scale of the firm.
• C) the firms face no or low fixed costs.
• D) the government grants the firm an exclusive license to operate.

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Definitions:

Schizophrenia

A mental disorder characterized by distorted thinking, perception, emotions, language, sense of self, and behavior.

CBT (Cognitive-behaviour Therapy)

A psychotherapeutic treatment that helps individuals understand the thoughts and feelings that influence behaviors, used primarily to treat anxiety and depression.

Psychoeducation

The process of providing education and information to those seeking or receiving mental health services, such as individuals with mental illnesses and their families.

Delusions

Strongly held false beliefs resistant to confrontation with actual facts, often indicative of a psychological disorder.