all firms sell natural resources
a single firm supplies natural resources to an entire industry
a single firm can supply the market output more efficiently than many firms
None of the above
Answer is Wrong!
Answer is Right!
The correct answer is C. A natural monopoly is a market situation in which a single firm can supply the market output more efficiently than many firms. This is because the production of a good or service in a natural monopoly has high fixed costs and low marginal costs. This means that the average cost of production decreases as the firm produces more output. As a result, a single firm can produce the good or service at a lower cost than multiple firms.
Option A is incorrect because it does not specify that the firm must be able to produce
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