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Business, 23.11.2019 02:31 esanchez2002fcb

When an industry is a natural monopoly:

a. it is characterized by constant returns to scale
b. it is characterized by diseconomies of scale
c. a larger number of firms may lead to a lower average cost
d. a larger number of firms will lead to a higher average cost

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When an industry is a natural monopoly:

a. it is characterized by constant returns to s...

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