Suppose that the quantity of natural gas demanded in a city is 70 billion cubic meters when the price is $0.24 per cubic meter. The table below shows the total costs for a firm supplying natural gas to this market. Quantity Total cost (billion m3) ($ billion) 20 4.5 30 $6.5 40 9.0 50 12.0 60 15.5 70 19.5 In the scenario above, is the firm a natural monopoly? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a Yes, because a single firm can satisfy the entire market demand at a lower total cost than two or more firms could. No, because two or more firms could satisfy the market demand at a lower total cost than a single firm can. x Your answer C d No, because two or more firms could satisfy the market demand at a lower average total cost than a single firm can. Yes, because a single firm can satisfy the entire market demand at a lower average total cost than two or more firms could. Hint Graph a natural gas supplier's ATC curve. Fullscreen