When economies of scale limit the number of firms in an industry to 3, there is a

A) natural monopoly.
B) natural oligopoly.
C) legal oligopoly.
D) legal cartel.
E) natural monopolistic competition.

B

Economics

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In what two ways does trade benefit consumers when firms are monopolistically competitive?

a. better quality products, increased information b. higher incomes, more dependable products d. lots of bells and whistles, higher wages d. lower prices, more variety

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Unemployment insurance schemes mainly increase:

A. frictional unemployment. B. seasonal unemployment. C. teenage unemployment. D. cyclical unemployment.

Economics