In a Natural Monopoly, Average Total Cost Is Less Than

question 59

True/False

In a natural monopoly, average total cost is less than marginal cost throughout the entire range of the market demand.

---

Definitions:

Transform Fault

A type of fault where two tectonic plates slide horizontally past each other, typically associated with seismic activity.

Mid-ocean Ridge

An underwater mountain range, formed by plate tectonics, where new oceanic crust is created by volcanic activity.

Linear Island Chain

A series of islands arranged along a straight or nearly straight line, often formed by volcanic activity along a submarine ridge.

Fracture Zone

An area in oceanic or continental crust characterized by cracks and faults due to tectonic stresses, often associated with earthquake activity.