A Natural Monopoly Exists Whenever a Single Firm

question 89

Multiple Choice

A natural monopoly exists whenever a single firm:

• A)is owned and operated by the federal or local government.
• B)is investor owned but has been granted the exclusive right by the government to operate in a market.
• C)has economies of scale over the entire range of production that is relevant to its market.
• D)has gained control over a strategic input of an important production process.

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