Which of the following reasons explain why a natural monopoly might exist?
A. The government has banned other firms from entering the market.
B. The good or service is not proprietary.
C. Extremely high start-up costs.
D. A cartel owns the natural resource.
Answer: C
You might also like to view...
Bananas, chocolate bars, chewing gum, orange juice and yogurt are considered to be ________ goods
A) service B) durable C) nondurable D) essential
If there are approximately 6,000 barrels of known reserves of oil, an estimated 10,000 barrels of unknown reserves of oil,
and it is estimated that the supply of oil will be depleted in 40 years, what is the annual consumption of barrels of oil, all else equal? A) 150 B) 250 C) 400 D) 1,600
The "New Economy", a period marked by major technological change, low inflation, low unemployment, and rapidly growing productivity characterized
A. the 1920s. B. the 1960s. C. the 1990s. D. All of the decades listed.
An upward shift of the consumption function might be caused by _____
Fill in the blank(s) with the appropriate word(s).