Business
Business, 21.04.2020 04:22, Softball5378

Until the 1980s, AT&T held a monopoly over the national market for phone services. Suppose that AT&T argued that it was a natural monopoly because the fixed cost of creating a nationwide phone network generated huge economies of scale, and that there was, therefore, no welfare loss associated with its monopoly.
Counter this argument by explaining how even a natural monopoly causes deadweight loss.

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Until the 1980s, AT&T held a monopoly over the national market for phone services. Suppose that...

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