If the long-run average total cost curve of an industry is declining at the point where it intersects the industry demand curve, then we can expect that the industry will be a natural monopoly.
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What is Natural monopoly?</h3>
This is characterized by high infrastructural costs and other barriers which prevent entry into the market. This gives rise to a very few being involved and usually offers no competition as there is a single seller with unique types of goods and services.
This type of monopoly involves sellers having a big size and able to produce the required output for the consumers. This makes them to be self-sufficient and is characterized by the long-run average total cost curve of an industry declining and intersecting the industry demand curve which is the reason why it was chosen as the most appropriate choice.
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The trace of a matrix A, designated by tr(A), is the sum of the elements on the main diagonal. The sum of the eigenvalues of a matrix equals the trace of the matrix.
