Which of the Following Would Create a Natural Monopoly

question 162

Multiple Choice

Which of the following would create a natural monopoly?

• A) ownership of all the available units of a necessary input
• B) an exclusive right granted to supply a good or service
• C) requirement of a government license before the firm can sell the good or service
• D) technology enabling a single firm to produce at a lower average total cost than two or more firms
• E) a patent granted the producer of the good or service

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Definitions:

Accompanying Figure

An accompanying figure is an illustrative or graphical addition to a body of text, intended to provide visual context or clarification to the accompanying content.

Selection Sort

A simple, comparison-based sorting algorithm that divides the input list into two parts: the sorted part at the beginning and the unsorted part that remains, moving through the list by selecting the smallest or largest unresolved element.

Outer For Loop

The first loop in nested for-loops which controls the iteration of the inner loop, usually responsible for the broader range of iteration.

Sequential Search

An algorithm that checks each element in a data set one by one until the desired element is found or the end is reached.