A market in which a single firm can produce, at a lower cost than multiple firms, the entire quantity of output demanded is called: A)diseconomies of scale. B)government intervention. C)a natural monopoly. D)price gouging.

Question

Quizplus · Accepted Answer

A natural monopoly occurs when a single firm can supply the entire market more efficiently than multiple firms, leading to lower costs for production and distribution. This is often due to high fixed costs and significant economies of scale.

A Market in Which a Single Firm Can Produce, at a Lower