In a market where the economics of scale are so great that the largest firm has the lowest costs and thus is able to drive out its competitors refers to

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This scenario describes a natural monopoly, where the industry has high barriers to entry and the market size is not large enough to support multiple competitors due to economies of scale. As a result, the largest firm has a significant cost advantage, making it difficult for smaller firms to compete and succeed in the long run.

In a Market Where the Economics of Scale Are So