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(Solved): 6). What is a natural monopoly and why does in the case of natural monopoly, competition results in ...


6). What is a natural monopoly and why does in the case of natural monopoly, competition results in a higher cost and a higher price?



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A natural monopoly is a distinct type of monopoly that may arise when there are extremely high fixed costs of distribution, such as exist when large-scale infrastructure is required to ensure supply. Examples of infrastructure include cables an
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