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April 23, 2014

Homework Help: Economics

Posted by Sarah on Friday, September 7, 2007 at 5:39am.

A firm is a natural monopoly if:

a) its average cost curve falls throughout its relevant output range.

b) the firm owns an essential natural resource used in making the product.

c) the government has granted the firm the right to a monopoly.

d)the firm owns patents that protect it from high competitors.

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