The reasons reasons why the performance of natural monopolies contradict the long run equilibrium position of monopoly in South Africa are.
- Natural monopolies does not benefit as other monopolies benefit.
- The structure of natural monopoly costs and demand make competition very costly.
- A natural monopoly is as a result of when average costs are decline continously for a long time during production which satisfies market demand.
What is Monopoly?
Monopoly is a system in which there is no competition in the markert because that is one seller and the the seller is in charge of controlling the price of goods and services.
Therefore, The reasons reasons why the performance of natural monopolies contradict the long run equilibrium position of monopoly in South Africa are.
- Natural monopolies does not benefit as other monopolies benefit.
- The structure of natural monopoly costs and demand make competition very costly.
- A natural monopoly is as a result of when average costs are decline continously for a long time during production which satisfies market demand.
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