Answer: Natural monopoly
Explanation:
A natural monopoly is a form of monopoly that comee into being due to huge start-up costs and also economies of scale. A firm that has a natural monopoly may be the only producer of a particular good or service.
A natural monopoly occurs when the long-run average total cost curve is crossed by the markwt demand curve when the average total costs are still diminishing.
Answer:
Please Kindly check the attach picture, the full working is there.
Explanation:
The supply curve slopes upward represents increasing marginal costs with an increase in production.
<h3>Why does the supply curve slopes upward?</h3>
Because businesses would typically be more motivated to produce a good as its price increased, the supply curve slopes higher. Additionally, because companies are effective and would use up the cheapest manufacturing inputs first, the cost of production tends to grow as output increases.
<h3>What are the reasons why the supply curve increases or decreases?</h3>
The market becomes unbalanced as a result of a change in supply shifting the supply curve, which is then corrected by a change in pricing and demand. The supply curve changes right when the change in supply increases, while it shifts left when the change in supply decreases.
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