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kenny6666 [7]
2 years ago
12

What is a market that runs most efficiently when one large firm supplies all of the output referred to as?

Business
1 answer:
stealth61 [152]2 years ago
7 0

Answer:

a natural monopoly

Explanation:

A monopoly is a market structure which is typically characterized by a single-seller (one seller) who sells a unique product in the market by dominance. This ultimately implies that, it is a market structure wherein the seller has no competitor because he is solely responsible for the sale of unique products without close substitutes.

A monopolist refers to any individual that deals with the sales of unique products in a monopolistic market.

On a related note, a natural monopoly is a market that runs most efficiently when all of the output is supplied by one large business firm. Thus, a business firm is considered to be a natural monopoly if it's capable of producing the total output of the market at a lower cost than two or more business firms could.

Some examples of natural monopoly are the United States Postal Service, electricity grid, water supply, gas network, sewer services, energy distributors, railway service, etc.

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Lisa [10]

Answer:

Option (B) is correct.

Explanation:

If there is an increase in the income of the consumer then as a result there is a parallel shift in the budget line. This increase in income will increase the real purchasing power of the consumers and hence, this would increase the quantity of two goods consumed in an equal proportion.

Other factors remains the same, an increase in the income level of the consumer will increase the consumption of both the goods because the prices of both the goods are constant.

5 0
3 years ago
The spaghetti sells 340 units per week at $12 per plate. The steak sells 212 units at $16 per plate. Which has the higher
stepan [7]

Answer:

a) Spaghetti

Explanation:

Dollar value means the actual amount raised from selling. In this case,

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=$4,080

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Therefore, spaghetti has higher dollar sales.

4 0
2 years ago
The council members of a small town have decided that the earth levee that protects the town from flooding should be rebuilt and
laiz [17]

Answer:

$230,899

Explanation:

Calculation for what the equivalent present cost is for the first 5 years

Present cost of the repair work = 68,000 * (P/A, 6%,5) - 7,000 * (P/G, 6%,5)

Present cost of the repair work= 68,000 * 4.212364 - 7,000 * 7.934549

Present cost of the repair work= $230,898.90 Approximately $230,899

Therefore the Present cost of the repair work will be $230,899

3 0
2 years ago
What are 2 types of goods/services that lends themselves well to non-price competition?
Luden [163]
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Explanation:

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Which test best helps students prepare for the ACT? A.SAT B.PSAT C.NMSQT D.Aspire
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