What is the name for a market where a single producer is able to produce at a lower cost than competing firms could?
A)Unregulated monopoly.
B)Oligopoly.
C)Natural monopoly.
D)Trade association.

Question

Quizplus · Accepted Answer

A natural monopoly is a market where a single producer can provide goods or services at a lower cost than any potential competitor. This may occur due to economies of scale, where the cost per unit decreases as the quantity produced increases. Natural monopolies are typically regulated to prevent abuse of market power.

What Is the Name for a Market Where a Single