The situation where a single firm can supply the product to an entire market at a lower unit cost than if the market were split among a number of competing firms, is called a
A)dominant firm oligopoly.
B)structured market.
C)natural monopoly.
D)trust.

Question

Quizplus · Accepted Answer

A natural monopoly occurs when a single firm can supply a product to an entire market at a lower cost than if there were multiple firms due to economies of scale.

The Situation Where a Single Firm Can Supply the Product