Business
Business, 16.04.2020 00:01, miathegreat

What is a natural monopoly? a. A monopoly that results from government issuing patents. b. A market in which there is only one firm. c. A monopoly that faces a high fixed cost and low marginal costs so that the average total cost curve slopes downward. d. A monopoly resulting from one firm's exclusive ownership of a natural resource required to produce a good. Which of the firms is most likely to be a natural monopoly? a. A pharmaceutical company that has the exclusive right to sell a patented drug. b. A restaurant that is unable to practice price discrimination and must charge all consumers the same price. c. A firm that owns nearly all of the diamond mines in the world. d. Municipal Power Light, the local supplier of electricity.

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