Question

If competition places discipline on costs, motivating firms to innovate and find more cost-effective ways to produce, which of the following would then explain why in some markets a single firm without competitors will produce at a lower cost than if the firm faced competition?

Answer 1

The answers are economies of scale, natural monopolies, and lowered average fixed cost.

Step-by-step explanation:

The explanations for some firms beahvior in determined markets are economies of scale, natural monopolies, and lowered average fixed cost.