A Natural Monopoly Is Most Likely to Result If a Single

question 125

Multiple Choice

A natural monopoly is most likely to result if a single firm:

• A) is the only seller in a community.
• B) is investor-owned, but is granted the exclusive right by the government to operate in a market.
• C) experiences economies of scale over a wide range of output.
• D) has gained control over a strategic input of an important production process.

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Definitions:

Genetic Material

The biological macromolecules or substances in cells that carry genetic information, typically DNA or RNA, essential for inheritance and controlling cell function.

RNA

Ribonucleic acid, a molecule essential for coding, decoding, regulation, and expression of genes, playing a critical role in protein synthesis and other cellular processes.

Astrobiologists

Scientists who study the origin, evolution, distribution, and future of life in the universe, including the potential for life on planets other than Earth.

Essential Component

A fundamental element or part necessary for the functioning or completeness of a system or whole.