tupou2032 tupou2032

26-11-2022
Social Studies

Answered

A natural monopoly exists when
a monopolist produces a product, the main component of which is a natural wood.
economies of scale are so large that only one firm can survive and achieve low average total cost in t long run.
a firm is the exclusive owner of a key resource necessary to produce the firm's product.
there are many close substitutes for a firm's product.

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