Engineering, 12.12.2019 21:31 sally8177
If the distribution of water is a natural monopoly, then: (i) multiple firms would likely each have to pay large fixed costs to develop their own network of pipes. (ii) allowing for competition among different firms in the water-distribution industry is efficient. (iii) a single firm can serve the market at the lowest possible average total cost.
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If the distribution of water is a natural monopoly, then: (i) multiple firms would likely each have...
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