If a "Certificate of Convenience and Public Necessity" Protects a Monopolist's

question 127

Multiple Choice

If a "certificate of convenience and public necessity" protects a monopolist's position, the barrier to entry this firm relies on is called

• A) a tariff.
• B) a government license.
• C) a patent.
• D) economies of scale.

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Definitions:

Poisson Distribution

A statistical distribution that expresses the probability of a given number of events occurring in a fixed interval of time or space, assuming these events occur with a known constant rate and independently of the time since the last event.

M/M/1 Queue

A model describing a queueing scenario with a single server, where arrivals are determined by a Poisson process, and service times have an exponential distribution.

Units in the System

The total number of items or entities currently being processed or within a particular process or system at any given time.

Poisson Distribution

A statistical distribution describing the probability of a given number of events happening in a fixed interval of time or space, assuming events happen independently at a constant rate.