A Natural Monopoly Exists When Throughout the Range of Market

question 24

Multiple Choice

A natural monopoly exists when throughout the range of market demand,_____

• A)average cost is equal to marginal cost.
• B)there exist diseconomies of scale.
• C)there exist economies of scale.
• D)average cost is constant.
• E)marginal cost exceeds average cost.

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Definitions:

Self-fulfilling Prophecy

A prediction that directly or indirectly causes itself to become true due to the positive feedback between belief and behavior.

Stereotypes

Oversimplified, generalized images or ideas about a group of people, ignoring individual differences.

Social Schema

A cognitive framework that helps individuals organize and interpret information about the social world.

Stereotypes

Stereotypes are oversimplified and widely held beliefs or ideas about the characteristics, behaviors, and roles of certain groups or types of people, often based on minimal or no evidence.