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Write one real-life example of a natural monopoly. Explain why the monopolist should keep lowering his price when demand is elastic (remember, monopolist's demand curve

Write one real-life example of a natural monopoly. Explain why the monopolist should keep lowering his price when demand is elastic (remember, monopolist's demand curve has two main sections: elastic and inelastic). What will happen to the price if the demand becomes inelastic? (30 points)

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