A natural monopoly
a. is a monopoly in the production of raw materials.
b. occurs when one firm can supply the entire market more cheaply than can a number of firms.
c. is one result of a patent.
d. results from decreasing returns to scale.
b
Economics
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The WTO
A) is an affiliate of the World Bank. B) is an organization created to oversee NAFTA. C) was established to resolve trade disputes among member nations. D) provides low interest loans to member nations to help develop their export industries.
Economics
One organization in the United States today that is exempt from antitrust laws is
A) the automobile industry. B) professional baseball. C) the oil industry. D) the steel industry.
Economics