Question

What are some of the benefits of a natural monopoly? Check all that apply.
It can focus on serving customers first and foremost.
It can improve a product without worrying about competition.
It can supply all the customers in a market with a good or service.
It does not have to worry about costs because it is not run for profit.
It can work to improve a product due to pressure from other producers.

Answer 1

Natural monopoly  is type of monopoly when only one firm dominates the industry. The reasons for natural monopoly are extremely high fixed costs of distribution. Some of the benefits of a natural monopoly are:
- It can focus of serving customers first and foremost.
-It can improve a product without worrying about competitions.
- It can supply all the customers in a market with a good service.
All these benefits arise from the fact that the primary goal of the natural monopoly is to give service to every customer.

Answer 2

The benefit of natural monopoly are : It can focus of serving customers first and foremost. It can improve a product without worrying about competitions. It can supply all the customers in a market with a good service.

What is natural monopoly?

Natural monopoly is a market where a single seller can provide the output because of its size. This means that a natural monopolist can produce the entire output needed in a particular market.

Examples of Natural Monopolies are :

• Gas network

• Electricity grid

• Railway infrastructure

Some of the benefits of a natural monopoly are:

1. It can focus of serving customers first and foremost.
2. It can improve a product without worrying about competitions.
3. It can supply all the customers in a market with a good service.

Learn more about natural monopoly here :  https://brainly.com/question/2011507