Natural monopoly is a defense to a charge of ________ which recognizes that a small market can support only one competitor, such as a small-town newspaper.

Question

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Natural monopoly is a defense to a charge of monopolizing because it acknowledges that in certain markets, the nature of the goods or services is such that only one provider can efficiently serve the market. This is often due to high fixed costs and significant economies of scale, as seen in utilities or small-town newspapers.

Natural Monopoly Is a Defense to a Charge of ________