If every customer wants to enjoy the good of one producer, and the producer can supply the good to every customer at a low cost, then this is known as:
A)compensating differentials
B)the superstar phenomenon
C)natural monopoly
D)union wage inflation

Question

Quizplus · Accepted Answer

The superstar phenomenon describes a situation where a few top performers in a field are able to serve a large portion of the market, often due to technology or skills that allow them to provide goods or services to a vast audience at a low marginal cost. This leads to a concentration of market share among a small number of "superstars."

If Every Customer Wants to Enjoy the Good of One