Question

What are called natural monopolies in environmental?

Answer 1

A natural monopoly is a type of monopoly that exists as a result of the high fixed or start-up costs of operating a business in a specific industry. Additionally,natural monopolies can arise in industries that require unique raw materials, technology or other similar factors to operate.

Answer 2

Answer:

A natural monopoly is a type of monopoly that exists typically due to the high start-up costs or powerful economies of scale of conducting a business in a specific industry which can result in significant barriers to entry for potential competitors.