To Be a Natural Monopoly a Firm Must

question 63

Multiple Choice

To be a natural monopoly a firm must

• A) control a key resource input.
• B) have economies of scale that are so large that it can supply the entire market at a lower cost than two or more firms.
• C) have significant network externalities.
• D) be very large relative to the total market.

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Definitions:

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Pig Latin

A playful form of language created by altering the letters in English words, typically for amusement or secret communication.

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The units of organization for a sequence of speech sounds, typically consisting of a vowel sound or a vowel and consonant combination.

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The ability to recognize and manipulate sounds and syllables in words, a key skill in learning to read.