If the Average Cost Curve for an Individual Firm Is

question 139

Essay

If the average cost curve for an individual firm is decreasing when it intersects the market demand curve,why is a natural monopoly likely to develop in this market? Explain.

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Definitions:

Repudiated the Contract

The act of refusing to perform the duties or obligations set forth in a contract.

Withdrawn

Refers to the act of taking back or removing an offer, statement, or accusation before it has been accepted or acted upon.

Changes Mind

Changing mind refers to the act of altering one's decision or opinion about a previously made choice or stance.

Rejecting Delivery

The act of refusing to accept goods or delivery of goods, typically because they do not meet the terms of a contract or order.