Using the chart above, what is charted on Tooth #32?
Definitions:
Natural Monopoly
A market condition where due to high fixed costs or unique resources, a single company can supply a product or service at a lower cost than any potential competitor, thus dominating the market.
Unit Costs
The price a business incurs for the production, storage, and distribution of a single unit of a certain product or service.
Minimum Efficient Scale
The smallest amount of production a company can achieve while still taking full advantage of economies of scale regarding costs per unit of output.
Diseconomies of Scale
The condition when a company grows so large that the costs per unit increase, causing a decrease in efficiency.
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