An Industry Is a Natural Monopoly When

question 75

Multiple Choice

An industry is a natural monopoly when

• A) (ii)only
• B) (iii)only
• C) (i)and (ii)only
• D) (ii)and (iii)only

---

Definitions:

Domestic Price

The price of goods or services within a country's borders, influenced by local supply and demand conditions.

Free Trade

refers to international trade left to its natural course without tariffs, quotas, or other restrictions.

Leather Wallets

Small, foldable cases often made of leather used for holding personal items such as cash, credit cards, and identification documents.

Domestic Price

The price of goods or services within a country's borders, as opposed to the price of those goods or services in international markets.