Which of the Following Is Not a Source of Monopoly

question 23

Multiple Choice

Which of the following is not a source of monopoly?

• A) technologies that allow each of many small firms to produce at the same per-unit costs as one large firm
• B) patents
• C) control of crucial inputs
• D) government licensing requirements

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Definitions:

Condorcet Paradox

A situation in social choice theory where collective preferences can be cyclic (not transitive) despite the transitive preferences of individual voters.

Majority Rule

A decision-making principle where the preferences or decisions supported by more than half of the participants are adopted.

Transitive Preferences

A condition in decision-making where if an individual prefers option A over option B and prefers option B over option C, then the individual also prefers option A over option C.

Median voter theorem

A theory suggesting that the outcome of a majority rule voting system will represent the preferences of the median voter.