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16 February, 12:14

When a natural monopoly exists in a given industry, the per-unit costs of production will be?

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  1. 16 February, 15:47
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    They will be lowest when a single company produces all of the output in an industry. This will be because the one company is doing all the production and does not have to compete with any other companies trying to enter the marketplace. The lack of new companies will allow the monopolizing company to set their own prices for costs of production.
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