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What is the difference between the term 'monopoly' and 'natural monopoly'?
Wiki User
∙ 10y ago
The difference between the term 'monopoly' and 'natural monopoly' is a monopoly is a market situation one group controls the availability and price of a service or item. A natural monopoly is a service or item that is provided by a single sorce. An example would be transportation like buses, or taxies.
Wiki User
∙ 10y ago
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