When Economies of Scale Limit the Number of Firms in an Industry

question 183

Multiple Choice

When economies of scale limit the number of firms in an industry to 3,there is a

• A) natural monopoly.
• B) natural oligopoly.
• C) legal oligopoly.
• D) legal cartel.
• E) natural monopolistic competition.

Grasp the concept of the present and future value of money, including the principles of compounding and discounting.

Recognize the role of profits and losses in the allocation of society's resources.

Comprehend the basic principles of loan interest, including factors affecting interest rates and the relation between loan size and period.

Identify the characteristics of economic resources and differentiate between them (e.g., land, labor, capital).

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Definitions:

Secure Gender Identity

A stable and confident understanding of one's own gender identity.

Years

Units of time equal to 365 or 366 days, used in measuring durations or ages.

Power Assertion

A disciplinary technique that involves the use of authority, demands, or physical force to enforce child compliance, often criticized for its potential negative psychological effects.

Induction

A method of reasoning in which specific observations or instances are used to form a general conclusion or principle.