Natural oligopolies occur when
A) the government establishes a market with a few large producers
B) the market output could be produced at a higher cost by several large firms rather than many small firms
C) there are no barriers to entry
D) the total market output could be produced at a lower cost by several large firms rather than many small firms
E) one large firm can produce the total market output at a lower cost than several smaller firms could
Correct Answer:
Verified
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