Question

question 1 (multiple choice worth 4 points) (lc) which of these is an example of a natural monopoly? electricity service grocery delivery retail store security driveway concrete repair

Explanation:

A natural monopoly occurs when a single firm can supply a good or service to an entire market at a lower cost than multiple firms. Electricity service has high fixed costs (e.g., power plants, transmission lines). Duplicating these for multiple firms would be inefficient. Grocery delivery, retail store security, and driveway concrete repair have lower barriers to entry and less cost - scale advantages for a single firm.

Answer:

Electricity service