Answer:
The correct answer is long-run average costs decline continuously through the range of demand.
Explanation:
A natural monopoly is a market in which the production of an industry can only produce efficiently with a single company. It occurs when technology shows economies of scale in a production range that is as large as all demand.
Some important examples of natural monopolies are local basic telephony, electricity, gas and water, as well as long-distance rail links, highways and electric transmission. It becomes clear that many of the most important natural monopolies are "network industries."
