Question: 23. Which statement is the most accurate? (LO6) a) The rationale for natural monopoly has been strengthened by deregulation. b) Your local phone and electric

23. Which statement is the most accurate? (LO6) a) The rationale

23. Which statement is the most accurate? (LO6) a) The rationale for natural monopoly has been strengthened by deregulation. b) Your local phone and electric companies will probably continue to be monopolies for at least another 50 years. c) Deregulation and competition tend to lower costs. d) Natural monopoly never had any economic basis. Use the graph in Figure 1 to answer questions 24 and 25. 20 MC 16 12 ATC Price ($) 8 D 4 MR 0 4 8 12 16 20 Output

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