A Natural Monopoly Has _________, but Will __________ If Left

Multiple Choice

A natural monopoly has _________, but will __________ if left unregulated.

A) exclusive access to a natural resource; price competitively
B) exclusive access to a natural resource; not maximize profit
C) low average total cost; have high marginal costs
D) low average total cost; charge a high price
E) low average total cost; undercut its competitors