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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asked Mar 9, 2021 74.8k views

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Agentnega · Answer 1 · 2021-03-15T06:35:14+0000

Answer:

Natural Monopoly

Step-by-step 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.

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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