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long-run
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∙ 11y ago
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Which industry has not been considered a natural monopoly for the past 30 years?
Diamonds
What does a monopoly do ?
A monopoly controls an industry
What does the size of a market have to do with whether an industry is a natural monopoly?
well technically a monopoly is just holding 25% percent of the market, so it would help if the market was smaller.
What is an natural monopoly?
A natural monopoly exists when a single firm can supply a good or service to an entire market at a lower price than could two or more firms. Generally it arises when there are economies of scale over the relevant range of output.
When can an industry that enjoys economies of scale easily become a natural monopoly?
because average costs drop as production rises
Which industry has not been considered a natural monopoly for the past 30 years?
Diamonds
What does a monopoly do ?
A monopoly controls an industry
Is the market for duty free shopping a natural monopoly?
The market for duty-free shopping is not a natural monopoly. Duty-free shops sell products to travelers who take them out of the country. Natural monopoly only occurs if there is a high cost of starting a business in a particular industry.
When a company controls an industry after wiping out its competitors it is said to be a?
monopoly. btw are you in whiteheads class?
Why can an industry that enjoy economies of scale easily become a natural monopoly?
Average costs drop as production rises. This is why natural monopolies are possible.
What does the size of a market have to do with whether an industry is a natural monopoly?
well technically a monopoly is just holding 25% percent of the market, so it would help if the market was smaller.
What is an natural monopoly?
A natural monopoly exists when a single firm can supply a good or service to an entire market at a lower price than could two or more firms. Generally it arises when there are economies of scale over the relevant range of output.
What is a company that has control of an entire industry?
A monopoly
When can an industry that enjoys economies of scale easily become a natural monopoly?
because average costs drop as production rises
Why can industry that enjoys economies of scale easily become a natural monopoly?
because average costs drop as production rises
Which of these controls prices and availability in an industry?
Monopoly ~ APEX :)
What does monopoly do?
controls an industry
