If the minimum efficient scale is large relative to

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: f output without losing money. Many public utilities are natural monopolies of this sort and are therefore regulated by the government. Whether an industry is competitive or monopolized depends in part on the nature of technology. If the minimum...
View Full Document

This note was uploaded on 02/25/2014 for the course ECON 212 taught by Professor Mirobins during the Spring '08 term at Mt. Holyoke.

Ask a homework question - tutors are online