The Defining Characteristic of a Natural Monopoly Is

question 290

Multiple Choice

The defining characteristic of a natural monopoly is

• A)constant marginal cost over the relevant range of output.
• B)economies of scale over the relevant range of output.
• C)constant returns to scale over the relevant range of output.
• D)diseconomies of scale over the relevant range of output.

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Definitions:

Field Agency

The capacity or power of individuals or groups to act independently and make their own free choices within a social field.

Administrative Rule

Principles or regulations established in organizations, businesses, or governments for the purpose of directing and managing operations.

Biological Difference

Variations in physical and physiological characteristics between individuals or populations, often discussed in the context of gender, race, or species.

Projective Agency

The capacity of individuals to envisage future actions and goals influenced by their desires and aspirations, thereby shaping their future.