_______ Need to Be Brief,be Axiomatic and Convey Fundamental Guidelines

question 17

Multiple Choice

_______ need to be brief,be axiomatic and convey fundamental guidelines to decisions or actions.

• A) Key rules
• B) Fundamental rules
• C) Competitive advantages
• D) Simple rules

---

Definitions:

Monopolist

A single seller in a market with no close substitutes for the product or service they offer, leading to significant control over prices and output.

Marginal Cost

The added expense from the production of one additional unit of a product or service.

Economies of Scale

The cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale as fixed costs are spread out over more units.

Profitable

A financial status where the income or revenue generated exceeds the costs or expenses, resulting in a financial gain.