A natural monopoly is created by

a. a patent
b. nature
c. substantial economies of scale
d. government regulation
e. control of scarce inputs


C

Economics

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Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.

A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower

Economics

The short run is the time period during which a firm has at least one input constraint

Indicate whether the statement is true or false

Economics

Which of the following models results in the greatest deadweight loss assuming a fixed number of firms with identical costs and a given demand curve?

A) Cournot B) Stackelberg C) Monopoly D) Perfect competition

Economics

An industry in which there are many competitors with specific marketing niches is likely to be characterized by

A. perfect competition. B. monopoly. C. oligopoly. D. monopolistic competition.

Economics