Market failure occurs in natural monopolies

Market failure occurs in natural monopolies

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Reference no: EM13802656

Market failure occurs in natural monopolies because

a. the monopolist fails to maximize profit

b. the monopolist charges a price lower than marginal cost

c. consumers get inaccurate information about the opportunity cost of the product

d. consumers are not willing to pay the price that the monopolist charges

Reference no: EM13802656

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