A Local Electricity-Generating Company Has a Monopoly That Is Protected

question 51

Multiple Choice

A local electricity-generating company has a monopoly that is protected by an entry barrier that takes the form of

• A) control of a key raw material.
• B) network externalities.
• C) economies of scale.
• D) perfectly inelastic demand curve.

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Definitions:

Buyer In Ordinary Course Of Business

Describes a purchaser who buys goods in good faith and without knowledge that the sale violates another party's ownership rights or interests.

Instrument

Any writing that serves as evidence of the right to payment of money.

Writing

The representation of language in a textual medium through the use of a set of signs or symbols.

After-Acquired Property

Property not owned by a debtor at the time of a security agreement but acquired later and subsequently becomes subject to the security interest.