Business, 14.12.2019 05:31 dazesreplayy5363

Which of the following is a characteristic of a natural monopoly?

a. average cost exceeds marginal cost over large regions of output.
b. increasing the number of firms increases each firm’s average total cost.
c. one firm can supply output at a lower cost than two firms.
d. all of the above are correct.

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Which of the following is a characteristic of a natural monopoly?

a. average cost exce...