A natural monopoly has
A)one buyer of output.
B)a single firm providing the entire industry output.
C)many producers of the same product.
D)easy access to the market.

Name: A natural monopoly has A)one buyer of output. B)a single firm providing the entire industry output. C)many producers of the same product. D)easy access to the market.
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Question

Quizplus · Accepted Answer

A natural monopoly occurs when a single firm can produce the entire industry output at a lower cost than multiple firms.

A Natural Monopoly Has