A Natural Monopoly

question 86

Multiple Choice

A natural monopoly

• A) exists when many sellers experience lower average total costs than potential competitors do.
• B) exists when a firm has sole ownership of a natural resource.
• C) is an example of a government-created barrier.
• D) is needed to make a profit in the long run.
• E) exists when a single seller experiences lower average total costs than any potential competitor.

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Definitions:

Ring Closing Metathesis

A form of metathesis reaction that forms cyclic compounds by the rearrangement of carbon-carbon double bonds.

Octa-1,7-diene

An organic compound with the formula C8H14, characterized by a linear chain of eight carbon atoms with double bonds at the first and seventh positions.

Enantiomers

Mirror-image isomers of a molecule that cannot be superimposed on each other, typically affecting the molecule's interaction with biological systems.

Diastereomers

Stereoisomers that are not mirror images of each other and have different physical properties, including different melting points and boiling points.