A Natural Monopoly Is Defined as

Multiple Choice

A natural monopoly is defined as

A) a market in which competition and entry are restricted by the granting of a government license.
B) an industry in which economies of scale allow one firm to supply the entire market at the lowest possible cost.
C) a market in which competition and entry are restricted by the granting of a patent.
D) any market where one firm constitutes the entire industry.