Multiple Choice
Which of the following is true of a natural monopoly?
A) The operation of more than one firm reduces the production efficiency of the market.
B) The good that is sold by a natural monopoly is easily substitutable.
C) The firm produces at the point where marginal revenue equals price.
D) The natural monopoly market has no barriers to entry and exit.
Correct Answer:
Verified
Correct Answer:
Verified
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