Examlex
Which of the following situations is similar to the externality effect?
Consumer Surplus
The disparity in the consumers' desired payment amount for a good or service and the actual expense they bear.
Natural Monopoly
A market condition where a single firm can supply a product or service at a lower cost than any potential competitor, often due to economies of scale.
Large Fixed Costs
Expenses that do not change in total regardless of changes in the volume of goods or services produced.
ATC
Average Total Cost, which is calculated by dividing the total cost of production by the quantity of output produced.
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