Multiple Choice
A natural monopoly
A) exists when many sellers experience lower average total costs than potential
Competitors do.
B) exists when a firm has sole ownership of a natural resource.
C) is an example of a government-created barrier.
D) is needed to make a profit in the long run.
E) exists when a single seller experiences lower average total costs than any potential competitor.
Correct Answer:
Verified
Correct Answer:
Verified
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