Explain the Term "Natural Monopoly

question 38

Essay

Explain the term "natural monopoly."

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Definitions:

Quadrants

The four sections created when a plane is divided by its horizontal and vertical axes, often used in mathematics, graphing, and strategic analysis.

Small Appliances

Portable or semi-portable machines, generally used on tabletops, countertops, or other platforms, to accomplish a household task.

Dominant Market Share

A term describing a company or product that holds a majority percentage of total sales in its market, showcasing high competitive strength and market control.

Slow-Growth Industry

An industry characterized by low annual growth rates, often mature in nature, facing limited prospects for expansion.