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Business, 20.04.2021 16:10 andybiersack154

Natural monopolies form when: 1. one firm receives patent protection for certain basic production processes. 2. long-run average cost declines as a firm expands output. 3. one firm has control over the entire supply of a basic input required to produce the product. 4. one firm's monopoly position is created and enforced by the government. 5. small firms merge to form larger firms.

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