mrkmcnack2568 mrkmcnack2568

04-03-2020
Business

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A market structure in which a firm has a monopoly because the average costs of production are lowest when all output is produced by a single firm is known as....

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sadddamkashmiri801 sadddamkashmiri801

09-03-2020

Answer:

Natural Monopoly

Explanation:

The market in which there is only a single firm who meets the demand of all the residents is a monopoly and the market in which the firm has maintained its monopoly because the firm has attained economies of scale and no foreign firm can match the price of the firm is natural monopoly.

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