Natural monopolies result from:
A. Patents and copyrights
B. Pricing strategies
C. Extensive economies of scale in production
D. Control over an essential natural resource
C. Extensive economies of scale in production
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The confidence you have that a retailer will accept dollars in exchange for goods is based primarily on money
a. being a unit of account. b. being a medium of exchange. c. serving as a store of value. d. having intrinsic value.
In the crowding-out effect, ______.
a. government purchases increase interest rates, which crowd out investment and consumer spending and shift the aggregate demand curve to the left b. higher interest rates increase investment and consumer spending, which crowd out government purchases and shift the aggregate demand curve to the left c. government purchases lower interest rates, which crowd out unemployment and inflation and shifts the aggregate demand curve to the right d. low interest rates lead to increased government spending, which is crowded out by investment and consumption spending and shifts the aggregate demand curve to the right