If the Distribution of Water Is a Natural Monopoly, Then

question 479

Multiple Choice

If the distribution of water is a natural monopoly, then
(i) multiple firms would likely each have to pay large fixed costs to develop their own network of pipes.
(ii) allowing for competition among different firms in the water-distribution industry is efficient.
(iii) a single firm can serve the market at the lowest possible average total cost.

• A)(i) and (ii) only
• B)(ii) and (iii) only
• C)(i) and (iii) only
• D)(iii) only

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Definitions:

Control Circuit

Used in reference to both cranking systems and air brake systems. In a cranking system, it is the low-current switching circuit that connects the ignition switch with the magnetic switch. In an air brake system, it defines low-volume pilot air signals that are used to activate high-volume slave circuits.

Terminals

Terminals refer to the points at which electrical connections are made to a circuit, device, or a battery, facilitating the transfer of electrical power or signals.

Blade Fuses

Electrical components that protect circuits by melting and breaking the connection when current exceeds safe levels, characterized by their flat, plug-in design.