The situation in which the long-run average cost curve exhibits economies of scale over the entire range of output is called a "natural monopoly." Explain why,in the case of a natural monopoly,it would be cost efficient to have a single firm serve the entire market.

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The Answer of The situation in which the long-run average cost curve exhibits economies of scale over the entire range of output is called a "natural monopoly." Explain why,in the case of a natural monopoly,it would be cost efficient to have a single firm serve the entire market.

The Situation in Which the Long-Run Average Cost Curve Exhibits