Natural Monopolies

question 237

Multiple Choice

Natural monopolies

• A) have one lowest-cost producer in an industry.
• B) are not regulated.
• C) have long-run average costs equal to zero.
• D) do not experience economies of scale.

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Definitions:

Buyer

An individual or entity that acquires goods or services in exchange for payment.

Public

Relating to or involving people in general, rather than being limited to a private group or individuals.

Successful Deals

Agreements or transactions that meet or exceed the objectives and expectations of all parties involved.

Legal Circumference

The boundary or scope within which legal rights, obligations, and jurisdiction are defined.