A Firm That Has Economies of Scale

question 54

Multiple Choice

A firm that has economies of scale:

• A)at low output and diseconomies of scale at high output is a natural monopoly.
• B)over the entire range of output demanded is a natural monopoly.
• C)at any particular level of output is a natural monopoly.
• D)has a continually rising long-run average cost curve.

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Definitions:

Comparable Education

An education system, standard, or achievement that is similar in quality, scope, and value to another, enabling reasonable comparison.

Social Norms

Shared, unwritten rules that govern the behavior of members within a society or group, based on accepted and expected practices and conduct.

Structural Oppression

Refers to systematic and societal norms, policies, and institutions that discriminate or disadvantage certain groups based on their identity characteristics such as race, gender, sexual orientation, or socioeconomic status.

Same-Sex Marriage

The legally recognized marriage between two individuals of the same gender, granted the same rights and responsibilities as heterosexual marriage.