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Kansas City Area Transportation Authority (KCATA) is a natural monopoly. They hired an economist to study their costs and recommend the price and quality of
Kansas City Area Transportation Authority (KCATA) is a natural monopoly. They hired an economist to study their costs and recommend the price and quality of buses that KCATA should run. Based on the analysis of their costs, the economist recommended that the socially optimal price at which KCATA should provide bus service is 0, i.e. free. Draw a figure and explain why this might be the case.
please draw figure mainly if you cannot do that then don't attempt the question and too for that don't use chat gpt as its always gave wrong.
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