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7 August, 02:46

Some products are produced most efficiently when there is a single supplier. What is this called?

Natural monopoly

Natural resources

Price controls

Wage controls

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Answers (1)
  1. 7 August, 05:37
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    The correct option is A. Natural monopoly is defined as exclusive control of a supply or a business as a result of high start upcosts required to operate the business in a particular industry. Natural monopoly may also occur as a result of special laws, materials, technology, etc that are required to operate in the industry. Products from this type of company can be produce most efficiently as a result of economies of scale.
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