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One of the greatest contributions of scientific management in today's organization is increasing the productivity. Scientific management focuses on the activities performed by the workers in an organization. The importance of this was that scientific management makes the workers or employees efficient
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The solution and complete explanation for the above question and mentioned conditions is given below in the attached document.i hope my explanation will help you in understanding this particular question.
Explanation:
An example of a natural monopoly industry operating in South Africa include "Eskom".
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What is natural monopoly?</h3>
A natural monopoly occurs when there is an instance in which it is economically viable and better for a single entity to be in full and sole control of the production of a product or service.
Moreover, a natural monopoly is the fact that natural monopolies have extreme economies of scale. It can only start to become profitable when one single firm is able to service the majority of the market.
Learn more about natural monopoly, refer to the link:
brainly.com/question/4417882
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Answer:
A trade-off is the actual alternative option that is given up, while the value of this alternative option is the opportunity cost. ... Marginal cost is the cost of using one more unit of a good or service, and marginal benefit is the benefit or satisfaction received from using one more unit of a good or service.
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