An Industry Is a Natural Monopoly When (I)

Multiple Choice

An industry is a natural monopoly when (i)
The government assists the firm in maintaining the monopoly.
(ii)
A single firm owns a key resource.(iii)
A single firm can supply a good or service to an entire market at a smaller cost than could two or more firms.

A) (ii) only
B) (iii) only
C) (i) and (ii) only
D) (ii) and (iii) only