A Type of Firm That Usually Has a Natural Monopoly

question 112

Multiple Choice

A type of firm that usually has a natural monopoly in most of its markets is a(n) :

• A) electric utility.
• B) major automobile producer.
• C) major retail establishment.
• D) commercial airline.

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Definitions:

Justice

A fundamental moral concept focusing on the fairness, righteousness, and equality in the distribution of resources, opportunities, and treatment within society.

Ethics

Moral principles that guide our behavior.

Moral Question

An issue that involves judgments about what is right and wrong, ethical or unethical.

Business Profits

The monetary gains made by a business after subtracting all expenses from its total revenue.