What is true of geographic monopolies?

A. They are prohibited by government regulation.
B. They often exist in areas where the customer base is small.
C. They are usually broken up when new technology is introduced.
D. They usually involve scarce natural resources.

Question

21-07-2024
Business

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What is true of geographic monopolies?

A. They are prohibited by government regulation.
B. They often exist in areas where the customer base is small.
C. They are usually broken up when new technology is introduced.
D. They usually involve scarce natural resources.

Sagot :

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GinnyAnsweridn GinnyAnsweridn · Answer 1 · 2024-07-21T10:28:05-04:00

Final answer:

Geographic monopolies are regulated natural monopolies that involve scarce resources and are controlled by the government for efficient service delivery.

Explanation:

Geographic monopolies are usually regulated natural monopolies, which arise when one firm can supply the total quantity demanded in the market at lower cost than multiple firms. They often involve scarce natural resources and are challenging for competition policy due to the structure of costs and demand. These monopolies are typically not broken up but regulated by the government to ensure efficient provision of essential services.

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