Suppose That You Build a High-Speed,magnetically Powered Transportation System from Toronto

question 8

Multiple Choice

Suppose that you build a high-speed,magnetically powered transportation system from Toronto to Vancouver,and you are the only firm providing this service.High fixed costs resulting from the enormous quantity of capital used in this system enable decreasing average cost for any conceivable level of demand.Your monopoly is the result of your:

• A) control of a scarce resource or input.
• B) technological superiority.
• C) increasing returns to scale.
• D) use of government-set barriers.

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Definitions:

Allele

A variant of a gene that occurs due to mutation and is located at an identical location on a chromosome, representing one of two or more possible versions.

Genetic Drift

A mechanism of evolution that results in the change of the frequency of alleles in a population due to random sampling of organisms.

Evolution

The process by which different kinds of living organisms are thought to have developed and diversified from earlier forms during the history of the earth.

Genetic Bottleneck

A genetic bottleneck is an event where a significant reduction in population size occurs, leading to a decrease in genetic diversity and a change in allele frequencies.