[Solved] What Is Meant by the Term Natural Monopoly

Question 93
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What is meant by the term natural monopoly?


A)A single producer in a market,usually supported by government subsidies,who is able to produce at a higher cost than competing firms could.
B)A single producer in a market,usually with patent rights,who is able to produce at a cost equal to those of the competing firms.
C)A single producer in a market,usually with large economies of scale,who is able to produce at a lower cost than competing firms could.
D)A single producer in a market,usually with monopoly rights over input resources,who is able to produce at a higher cost than competing firms could.

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