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A natural monopoly occurs when

A. production requires the use of free natural resources, such as water or air.

B. the firm is characterized by a rising marginal cost curve.

C. there are economies of scale over the relevant range of output.

D. the product is sold in its natural state, such as water or diamonds.

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M91867230

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