Engineering Economics
A ______ is a market situation where economies of scale are so significant that cost are only minimized when the entire output of an industry is supplied by a single producer so that the supply costs are lower under monopoly that under perfect competition.

Ordinary monopoly
Perfect monopoly
Bilateral monopoly
Natural monopoly

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Engineering Economics
Which is true about partnership?

It has a perpetual life.
It can be handed down from one generation of partners to another.
It will be dissolved if one of the partners ceases to be connected with the partnership.
Its capitalization must be equal for each partner.

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