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What is the characteristic of a monopoly market that allows a natural monopoly to potentially charge consumers a price premium above long-run LRAC?Need an answer for which the work limit should be 150...

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What is the characteristic of a monopoly market that allows a natural monopoly to potentially charge consumers a price premium above long-run LRAC?Need an answer for which the work limit should be 150 words
Answered Same Day Dec 20, 2021

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Robert answered on Dec 20 2021
124 Votes
What is the characteristic of a monopoly market that allows a natural monopoly to potentially charge consumers a price premium above long-run LRAC? Need an answer for which the work limit should be 150 words.
A monopoly is a market structure with a single firm, facing downwards sloping demand curve. It is free to fix prices—‘price maker’ and allow the consumer to decide quantity to buy as per demand curve....
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