Which is an example of a privately-owned monopoly?Multiple Choicethe De Beers diamond syndicateESKOMPostal ServiceVodacom

The monopoly position of De Beers was maintained primarily by:Multiple Choicecutting production and stockpiling.obtaining government licenses and patents.price discrimination and government regulation.expanding economies of scale in diamond production.

​A natural monopoly exists when one large firm can produce a product at a lower per unit cost than can smaller firms.Group of answer choicesTrueFalse

Which of the following is not a possible source of natural monopoly?Multiple Choicelarge-scale network effectssimultaneous consumptiongreater use of specialized inputsrent-seeking behaviour

Which one of the following is the closest to being a natural monopoly?Group of answer choicesthe U. S. Postal Servicepublic educationyour local cable television companylong-distance telephone service

Which situation would be labelled a “natural monopoly”?Group of answer choicesA firm has large economies of scale, and is thus able to sell the good for a lower price than would if there were many firms.A firm applies for a patent to exclude others from entering.A firm owns exclusive rights to a natural resource.