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What is the defining characteristic of a natural monopoly? Select one: a. constant marginal cost over the relevant range of output b. constant average fixed
What is the defining characteristic of a natural monopoly?
Select one:
a. constant marginal cost over the relevant range of output
b. constant average fixed costs over the relevant range of output
c. constant returns to scale over the relevant range of output
d. economies of scale over the relevant range of output
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