What are some of the benefits of a natural monopoly? Check all that apply.

It can focus on serving customers first and foremost.

It can improve a product without worrying about competition.

It can supply all the customers in a market with a good or service.

It does not have to worry about costs because it is not run for profit.

It can work to improve a product due to pressure from other producers.

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Business

Leah Burgess

28 May, 04:41

What are some of the benefits of a natural monopoly? Check all that apply.

It can focus on serving customers first and foremost.

It can improve a product without worrying about competition.

It can supply all the customers in a market with a good or service.

It does not have to worry about costs because it is not run for profit.

It can work to improve a product due to pressure from other producers.

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Fury · Answer 1

Natural monopoly is type of monopoly when only one firm dominates the industry. The reasons for natural monopoly are extremely high fixed costs of distribution. Some of the benefits of a natural monopoly are:

- It can focus of serving customers first and foremost.

-It can improve a product without worrying about competitions.

- It can supply all the customers in a market with a good service.

All these benefits arise from the fact that the primary goal of the natural monopoly is to give service to every customer.