A natural monopoly owes its existence to
A) control of a key input.
B) persistently declining long-run average costs as scale increases.
C) patents.
D) increasing marginal returns and the ability to obtain quantity discounts from suppliers.
B
Economics
You might also like to view...
When is a price ceiling ineffective?
What will be an ideal response?
Economics
A tax increase has
a. a multiplier effect but not a crowding out effect b. a crowding out effect but not a multiplier effect c. both a crowding out and multiplier effect d. neither a multiplier or crowding out effect
Economics