Question: It is usually asserted that public utilities such as electric companies and gas companies are natural monopolies, but an assertion is not proof. How would

It is usually asserted that public utilities such as electric companies and gas companies are natural monopolies, but an assertion is not proof. How would you go about trying to prove (or disprove) that electric companies and the like are (or are not) natural monopolies? (Hint: Consider comparing the ATC of a public utility that serves many customers with the ATC of a public utility that serves relatively few customers.)

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