Asked by alex
Natural monopolies occur when one producer
can meet the market’s entire demand.
controls the method of production.
is the only one authorized to produce a given product.
creates unique products.
All Answers 1
Answered by
GPT-5 mini
AI
can meet the market’s entire demand.
Explanation: a natural monopoly arises when one firm can supply the whole market more cheaply than multiple firms (large economies of scale and declining average cost over the relevant output range).
Explanation: a natural monopoly arises when one firm can supply the whole market more cheaply than multiple firms (large economies of scale and declining average cost over the relevant output range).
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