A Natural Monopoly Owes Its Existence to

question 214

Multiple Choice

A natural monopoly owes its existence to

• A) control of a key input.
• B) persistently declining long-run average costs as scale increases.
• C) patents.
• D) increasing marginal returns and the ability to obtain quantity discounts from suppliers.

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Definitions:

Physical Restraint

Physical Restraint involves the use of physical measures or devices to limit an individual's movements for safety or control reasons.

Innocent Dissemination

A defense in libel and defamation cases, arguing that the distributor of the defamatory material was unaware of its content and thus not liable.

Online Service Providers

Companies or individuals that offer services over the internet, such as web hosting, email, and social networking services.

Liability

A legal responsibility for something, particularly for costs, damages, or debts.