In economics, a natural monopoly occurs when, due to the economies of scale of a particular industry, the maximum efficiency of production and distribution, realized through a single supplier Read more: What_is_natural_monopoly
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a supermarket
Microsoft
The difference between the term 'monopoly' and 'natural monopoly' is a monopoly is a market situation one group controls the availability and price of a service or item. A natural monopoly is a service or item that is provided by a single sorce. An example would be transportation like buses, or taxies.
No.
the economy Major of those four are the natural monopoly. geographic monopoly, govrnement monopoly. technological monopoly.
They are not. Although some like for example con Edison are but, they are a "natural / limited monopoly" in other words they are extremely regulated by the government.
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.
The difference between the term 'monopoly' and 'natural monopoly' is a monopoly is a market situation one group controls the availability and price of a service or item. A natural monopoly is a service or item that is provided by a single sorce. An example would be transportation like buses, or taxies.
No.
the economy Major of those four are the natural monopoly. geographic monopoly, govrnement monopoly. technological monopoly.
They are not. Although some like for example con Edison are but, they are a "natural / limited monopoly" in other words they are extremely regulated by the government.
natural monopoly
Tesco is a fine example of a monopoly in the UK
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.
good job
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.
A natural monopoly is likely to arise when economies of sale exist over the relevant range of demand.
Yes public education is a natural monopoly because it is a market that runs most efficiently when 1 large firm supplies all of its output.
Yes, it is more beneficial for the economy to have utilities as a monopoly, although they are considered as a 'natural' monopoly. Governments can nationalise the utility in order to maximise social welfare rather than maximise profit, this will keep prices low, keep output high and increase consumer surplus and consumer choice. Your welcome