A Natural Monopoly Is Defined as an Industry in Which

question 24

Multiple Choice

A natural monopoly is defined as an industry in which:

• A)regulatory barriers to entry prevent the operation of more than one firm.
• B)the marginal cost curve of the dominant firm is upward sloping.
• C)the monopoly firm is not regulated by the government.
• D)the average cost of the firm declines over the entire range of market demand.

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Definitions:

Cognitive-Social Theory

A theoretical perspective that emphasizes the role of cognitive processes in understanding social behavior.

Humanistic Theory

An approach in psychology that emphasizes empathy and stresses the good in human behavior.

Psychodynamic Theory

A theory in psychology which asserts that psychological processes and behaviors stem from the interaction of dynamic unconscious and conscious factors.

Cognitive-Social Theories

Theories in psychology that emphasize the roles of thought and social learning in behavior.