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25 February, 08:03

Distinguish between Natural and artificial monopolies

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  1. 25 February, 08:21
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    An artificial monopoly is a monopoly created by law, for example, the state makes an arrangement with a specific post service, making it the main or the only postal service in the country.

    A natural monopoly is a monopoly that is no enforced but which emerges due to high infrastructure costs, so for example the infrastructure of water supply makes the company who built the pipes the monopoly.
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