a. When, if ever, would a monopoly in a particular industry be preferred to competition within that industry? When it would be less costly for one firm rather than many firms to provide a good, as in a natural monopoly. It is never ideal to let a monopoly exist. When too many firms are in an industry, and the market is too chaotic to receive clear price signals. When only a few firms exist in an industry, so that the government must intervene to promote competition. Incorrect b. Which of the following are examples of a natural monopoly? Select all that apply. Swift Trucking A local utility company Whole Foods A local church or religious organization Incorrect
