When a Single Firm Can Supply a Product to an Entire

question 13

Multiple Choice

When a single firm can supply a product to an entire market at a lower cost than could two or more firms, the industry is called a

• A)resource industry.
• B)exclusive industry.
• C)government monopoly.
• D)natural monopoly.

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Definitions:

Internal Integration

Internal integration deals with the creation of a collective identity and with ways of working and living together.

Specific Targets

Clearly defined goals or objectives that are intended to be achieved within a set timeframe.

Collective Identity

A shared sense of belonging to a group that is characterized by common interests, values, traditions, or goals.

Organizational Culture

Organizational culture is a shared set of beliefs and values within an organization.