A natural monopoly Question 19 options: exists because of legal barriers to entry. is not protected by any barrier to entry. is an industry in which economies of scale exist so that one firm can supply the market at the lowest possible cost. is an industry where two or more smaller firms can supply the market at a lower cost than one big firm could.

In monopolistic market, a single firm produces unique good with no close substitutes.

Answered: natural monopoly Question 19 options:…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A natural monopoly

Question 19 options:

	exists because of legal barriers to entry.
	is not protected by any barrier to entry.
	is an industry in which economies of scale exist so that one firm can supply the market at the lowest possible cost.
	is an industry where two or more smaller firms can supply the market at a lower cost than one big firm could.

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