Which of the Following Correctly Describes a Natural Monopoly

question 9

Multiple Choice

Which of the following correctly describes a natural monopoly?

• A)A natural monopoly is an industry in which products are differentiated from one another.
• B)A natural monopoly exists if one large firm's long-run average cost curve is upward-sloping.
• C)A natural monopoly is defined as a firm that operates in an industry that has significant regulatory barriers to entry.
• D)A natural monopoly is an industry that exhibits economies of scale.

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Definitions:

Handscroll

A long, narrow scroll for displaying a series of scenes in East Asian art, viewed by unrolling from right to left.

Gu Kaizhi

A celebrated Chinese painter and poet of the Jin Dynasty, often considered the founder of classical Chinese landscape painting, known for works like "The Admonitions Scroll."

Zhou Jichang

A Chinese painter known for his contributions to the "Hundred Ramas" series, illustrating scenes from Buddhist lore with meticulous detail and vibrant colors.

Confucius

An influential Chinese philosopher and social thinker, living in the 5th century BCE, whose teachings focus on ethics, morality, and social relationships.