What is the term for a market structure in which only one firm survives because of economies of scale?
A) a structural monopoly
B) a government monopoly
C) a patented monopoly
D) a natural monopoly

Question

Quizplus · Accepted Answer

A natural monopoly is a type of market structure where a single firm survives due to significant economies of scale in production, making it economically efficient to have only one supplier in the market. In a natural monopoly, it is difficult for other firms to enter the market and survive due to the high barriers to entry, such as high start-up costs or the need for extensive infrastructure.

What Is the Term for a Market Structure in Which