Examlex
MATCHING
Match the person or term with the with the correct description.
-James Madison
Natural Monopoly
A market structure where a single firm can provide a product or service at a lower cost than any potential competitor, often due to economies of scale.
Average Total Cost
The total cost of production divided by the total output, or the cost per unit of output on average.
Pharmaceutical Company
A commercial business that researches, develops, makes, and sells pharmaceutical drugs and treatments.
Average Revenue
The total revenue divided by the quantity sold, representing the amount of revenue generated per unit of output sold.
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