If there are economies of scale throughout the relevant output range of production, which is false?
A) It is a natural monopoly.
B) It is more efficient to have a single firm produce the good.
C) It would typically result from a firm's possession of an exclusive patent.
D) One large firm can produce at lower cost than two or more smaller firms.
E) None of the above is false; all are true.
Correct Answer:
Verified
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