Describe an example of a real-world industry or market
QUESTION
Need a short response. no more than 1 page.Describe an example of a real-world industry or market that would be considered by economists to be a natural monopoly.What characteristics of the industry make it a monopoly?What is the impact of the monopoly power on its customers?Why might government want to regulate natural monopolies?How might such regulation be structured?
ANSWER:
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