If There Are Economies of Scale Throughout the Relevant Output

question 113

Multiple Choice

If there are economies of scale throughout the relevant output range of production,which is false?

• A) It is a natural monopoly.
• B) It is more efficient to have a single firm produce the good.
• C) It would typically result from a firm's possession of an exclusive patent.
• D) One large firm can produce at lower cost than two or more smaller firms.

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Definitions:

Cerebral Cortex

The outer layer of neural tissue of the cerebrum of the brain, playing a key role in memory, attention, perception, cognition, awareness, thought, language, and consciousness.

Systolic Pressure

The maximum arterial blood pressure during heart contraction, measured in millimeters of mercury (mmHg).

Diastolic Pressure

The pressure in the arteries when the heart rests between beats, representing the minimum arterial pressure during relaxation.

Velocity

The speed of an object in a given direction.