A Natural Monopoly Exists When

question 152

Multiple Choice

A natural monopoly exists when

• A)unit costs are minimized by having one firm produce an industry's entire output.
• B)several formerly competing producers merge to become the only firm in an industry.
• C)short-run average total cost curves are tangent to long-run average total cost curves.
• D)minimum efficient scale is attained at a small level of output.

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