Large Minimum Efficient Scale of Plant Combined with Limited Market

question 110

Multiple Choice

Large minimum efficient scale of plant combined with limited market demand may lead to

• A) natural monopoly.
• B) patent monopoly.
• C) government franchise monopoly.
• D) shared monopoly.

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Definitions:

Social

Relating to society or its organization.

Maslow Hierarchy

A theory of human motivation that ranks human needs in a pyramid structure, from basic physiological needs at the bottom to self-actualization at the top.

Self-actualization

The realization or fulfillment of one's talents and potentialities, considered as a drive or need present in everyone.

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Relating to the branch of biology that deals with the normal functions of living organisms and their parts.