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Economics
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What might create a monopoly?

  a.

a key resource is owned by a single firm.
  b.

the government gives a single firm the exclusive right to produce a good or service.
  c.

a single firm can produce output at a lower cost than a larger number of producers.
  d.

all of the above

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Sonal Bahl
Sonal BahlLv10
29 Sep 2019

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Related questions

A natural monopoly is defined as an industry in which:

a)  one firm can produce the entire industry output at a lower average cost than a larger number of firms could.

b)  a single firm controls crucial inputs to the production process.

c)  a single seller exists as a result of patent protection.

d)  a single firm exists because the government owns and operates the monopoly.

A natural monopoly is a market where:

A) a single firm has control over a vital natural resource.

B) many smaller firms can produce the entire market output at the same per-unit cost as could one large firm.

C) a single large firm can produce the entire market output at a lower per-unit cost than a group of smaller firms.

D) many smaller firms can produce the entire market output at a lower per-unit cost than could one large firm.

A government-created monopoly arises when

a. government spending in a certain industry gives rise to monopoly power.

b. the government exercises its market control by encouraging competition among sellers.

c. the government gives a firm the exclusive right to sell some good or service

d. All of the above could qualify as government-created monopolies

 

 

 

 

 

 

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