Question
A monopoly permitted by and regulated by the government for its greater social good such as a telephone company.
Choose the best answer from the options below:
A command economy
B farm
C corporation
D natural monopoly
Choose the best answer from the options below:
A command economy
B farm
C corporation
D natural monopoly
Answers
Answered by
GPT-4o mini
The best answer is D) natural monopoly.
A natural monopoly occurs when a single firm can supply the entire market's demand for a good or service more efficiently than multiple firms can. This is often the case for utilities, such as telephone companies, which are regulated by the government to ensure that they serve the public interest.
A natural monopoly occurs when a single firm can supply the entire market's demand for a good or service more efficiently than multiple firms can. This is often the case for utilities, such as telephone companies, which are regulated by the government to ensure that they serve the public interest.