describe an example of a real world industry or market that would be considered

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Describe an example of a real-world industry or market that would be considered by economists to be a natural monopoly.

  1. What characteristics of the industry make it a monopoly?
  2. What is the impact of the monopoly power on its customers?
  3. Why might government want to regulate natural monopolies?
  4. How might such regulation be structured?

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