A Natural Monopoly Arises When

question 29

Multiple Choice

A natural monopoly arises when

• A) one firm controls the supply of a unique resource.
• B) a firm has many small firms that it can control.
• C) there are firms which act together as a monopoly.
• D) the long-run average cost curve slopes downward as it crosses the demand curve.
• E) one firm naturally convinces the government to limit competition in the market.

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Definitions:

Role Clarity

The extent to which employees have a clear understanding of their job duties, responsibilities, and expectations.

Supportive Leadership

A leadership style that focuses on providing encouragement, empathy, and assistance to subordinates.

Tedious

Describes a task or process that is long, repetitive, and dull, often requiring considerable effort and patience.

Innovative Changes

The implementation of new ideas, methods, or products to improve processes or outcomes.