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A natural monopoly is a well defined term in economics. A natural monopoly occurres when there are massive fixed costs but insignificant variable costs in deli
by thatthatis 13y ago
A natural monopoly is a well defined term in economics. A natural monopoly occurres when there are massive fixed costs but insignificant variable costs in delivering a service.
The economics of the industry naturally lead to one firm providing the service, a monopoly.