Natural monopoly flashcard sets

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natural monopoly definitions
# Definition Sets
1a market that runs most efficiently when one large firm supplies all of the output10 sets
2a monopoly that arises because a single firm can supply a good or service to an entire market at a smaller cost than could two or more firms7 sets
3industry in which one company can most efficiently supply all needed goods or services6 sets
4a monopoly that results from economies of scale4 sets
5a market situation where the costs of production are minimized by having a single firm produce the product.2 sets
6one firm that can supply the entire market at a lower per-unit cost than could two or more firms - example: electricity2 sets
7an industry in which the average cost of production is minimized by having only one firm produce the product2 sets
8a market situation where the costs of production are minimized by having a single firm produce the product2 sets
9a firm with such a low average total cost that only it can survive in the market2 sets
10is an industry in which long-run average cost is minimized if just one firm serves the entire market.2 sets
11the situation where the market is better with a monopoly2 sets
12one firm that can serve the entire market at a lower per-unit cost than two or more firms1 set
13an industry in which one firm can achieve economies of scale over the entire range of market supply.1 set
14a market that runs most efficiently when one large firm suppies all of the output1 set
15a market situation where the costs of prodcution1 set
16one firm that can serve ethe entire market at a lower per unit cost than two or more fiscal units1 set
17a special type of monopoly that's able to lower its price when it produces and sells a larger quantity1 set
18an industry in which economies of scale are so great that a single firm can produce the product at a lower average total cost than would be possible if more than one firm produced the product1 set
19aaa1 set
20an electric company that serves an entire state is an example of a1 set
21an industry in which one firm can achieve economies of scale over the entire market supply1 set
22industry in which one company can almost efficiently supply all needed goods or services1 set
23a relatively rare market situation in which average total cost is minimized when only one firm produces the particular good or service.1 set
24a firm that can serve the market at a lower per unit cost than 2 or more firms can1 set
25one firm that can serve the entire market at a lower per unit cost than two or more firms can1 set
26a market that runs most efficiently when one large firm supplies all of the output; public water1 set
27runs the best when only one company provides the good or service. privately owned company that the govt. allows to exist1 set
28runs the best when only one company provides the good or service. privately own company that the govt. allows to exist.1 set
29an industry requiring huge investments in capital and within which duplication of facilities would be wasteful and thus not in the public interest1 set
30one company as the supplier of a product because the nature of that product makes more efficient than multiple, competing ones. most natural monopolies are government sanctioned or regulated1 set
31market that runs most efficiently when one large firm supplies all the output1 set
32one firm that can supply the entire market at a lower per-unit cost than could two or more firms.1 set
33relatively rare market situation in which atc is minimized when only one firm produces a particular good or service.1 set
34an industry inwhich economies of scale are so great that a single firm can produce the product at a lower average totalo cost then would be possible if more then one firm produced the product]1 set
35an industry in which economies of scale are so great that a single firm can produce the product at a lower atc than would be possible if more than one firm produced the product1 set
36a monopoly that results from economies of scale.1 set
37a market than runs most efficently when one large firm supplies all of the output1 set
38a market has a ______ ________ if one firm can produce the total output of the market at a lower cost than several firms could1 set
39when it is better for one firm to serve the entire market at a lower cost per-unit than two or more firms can1 set
40a monoploy that arises because a single firm can supply a good or service to an entire market at a smaller cost than could two or more firms1 set