Oligopolies Can Arise as a Result of Both Natural Barriers

question 69

True/False

Oligopolies can arise as a result of both natural barriers and governmentally created barriers.

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Definitions:

Total Variable Cost

The sum of all variable costs (costs that change with the level of output) associated with producing a specific amount of a good or service.

Product Price

The amount of money required to purchase a good or service.

Marginal Cost

The additional expense associated with creating another unit of a product or service.

Total Cost

The aggregate expenditure related to the manufacturing of products or services, which includes both stable and changeable costs.