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Describe and examine the concept of natural monopoly.
a) How is a natural monopoly definite?
b) Describe and examine advantages and disadvantages of setting a regulated natural monopoly's price to either marginal or average cost, respectively.
c) Name three (possible) real-life natural monopolies of your choice. Why are they natural monopolies?
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" Power is the ability to make things happen in the way an individual wants, either by self or by the subordinates. The essence of power is to control over the behavior of others":
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