A Market Structure in Which Only One Firm Survives Because

question 132

Multiple Choice

A market structure in which only one firm survives because of economies of scale:

• A) is called a structural monopoly.
• B) is called a patented monopoly.
• C) is called a natural monopoly.
• D) is called a government monopoly.

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Definitions:

Inferential Statistics

A branch of statistics that allows one to make predictions or inferences about a population based on a sample.

Arithmetic Mean

A measure of central tendency calculated by adding a set of numbers and dividing the sum by the count of those numbers.

Variability

The extent to which data points in a statistical distribution or set differ from each other and from their average.

Descriptive Statistics

Statistical methods that summarize and organize data to describe its main features, often through the use of charts, graphs, and summary measures.