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Homework answers / question archive / An industry in which one firm can supply the entire market at a lower price than two or more firms can is called a A

An industry in which one firm can supply the entire market at a lower price than two or more firms can is called a A

Marketing

An industry in which one firm can supply the entire market at a lower price than two or more firms can is called a

A. legal monopoly.

B. single-price monopoly.

C. natural monopoly.

D. price-discriminating monopoly.

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  • The correct option is C. Natural Monopoly.

Usually, a natural monopoly operates in the market either due to a high setup cost or due to powerful economies of scale. Thus, an industry where one firm can supply the entire market than two or more operating firms supply is known as the natural monopoly.

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