What are some of the challenges caused by a natural monopoly? check all that apply. it can raise prices without concern for customers. it is unable to serve all of the customers in a market. it lacks incentive to improve its good or service. it might not increase production if it cannot make a profit. it cannot be controlled by the government or other outside forces.

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crash6992 crash6992

10-09-2022
Business

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What are some of the challenges caused by a natural monopoly? check all that apply. it can raise prices without concern for customers. it is unable to serve all of the customers in a market. it lacks incentive to improve its good or service. it might not increase production if it cannot make a profit. it cannot be controlled by the government or other outside forces.

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QWCyan QWCyan · Answer 1 · 2022-09-13T15:52:17+02:00

Some of the challenges faced by a natural economy are it can raise prices without concern for customers and that it cannot be controlled by the government or other outside forces.

A natural monopoly is a situation when the most efficient number of firms in the industry is one. So a natural monopoly will typically have fixed costs that are very high. This means that it is not practical to have more than one firm producing the good. Examples of natural monopolies are the electricity grid, railway infrastructure, gas network, etc.

Another example of a natural monopoly is tap water. It makes sense to have just one company to provide the network of water pipes and sewers because of the high costs. So some of the challenges are that it can raise prices without thinking about its customers and the government and outside forces cannot interfere.

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