What Is Meant by the Term Natural Monopoly

Multiple Choice

What is meant by the term natural monopoly?

A) A single producer in a market,usually supported by government subsidies,who is able to produce at a higher cost than competing firms could.
B) A single producer in a market,usually with patent rights,who is able to produce at a cost equal to those of the competing firms.
C) A single producer in a market,usually with large economies of scale,who is able to produce at a lower cost than competing firms could.
D) A single producer in a market,usually with monopoly rights over input resources,who is able to produce at a higher cost than competing firms could.