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Explain natural monopoly in case of public production of private goods.

Microeconomics: Principles & Policy

14th Edition

ISBN:9781337794992

Author:William J. Baumol, Alan S. Blinder, John L. Solow

Publisher:William J. Baumol, Alan S. Blinder, John L. Solow

Chapter14: Limiting Market Power: Antitrust And Regulation

Section: Chapter Questions

Problem 5DQ

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Explain natural monopoly in case of public production of private goods.

Definition Definition Market structure in which a single company dominates the entire industry. In a monopoly market, there are no close substitutes for the goods and services offered by the monopoly.

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