Monopolies that exist because economies of scale create a barrier to entry are called natural monopolies.
Answer the following statement true (T) or false (F)
True
This is the definition of a natural monopoly.
Economics
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Why does a collusive agreement to restrict output and raise price create a game like the prisoners' dilemma?
What will be an ideal response?
Economics
The purchase of French wine by U.S. consumers will be accounted as:
a. a deficit in the services account. b. a credit in the merchandise account. c. a debit in the services account. d. a surplus in the services account. e. a debit in the merchandise account.
Economics