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7 October, 02:28

What are some of the benefits of a natural monopoly? Check all that apply.

It can focus on serving customers first and foremost.

It can improve a product without worrying about competition.

It can supply all the customers in a market with a good or service.

It does not have to worry about costs because it is not run for profit.

It can work to improve a product due to pressure from other producers.

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  1. 7 October, 02:53
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    Natural monopoly is type of monopoly when only one firm dominates the industry. The reasons for natural monopoly are extremely high fixed costs of distribution. Some of the benefits of a natural monopoly are:

    - It can focus of serving customers first and foremost.

    -It can improve a product without worrying about competitions.

    - It can supply all the customers in a market with a good service.

    All these benefits arise from the fact that the primary goal of the natural monopoly is to give service to every customer.
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