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WAEC Economics 2013 Question 18

Question 18

Market Structures

The type of monopoly that develops as a result of uneven distribution of resources is called

  1. A.legal monopoly.
  2. B.natural monopoly.
  3. C.state monopoly.
  4. D.international monopoly.
Show the answer and explanation

Answer: B (natural monopoly.)

Explanation

Control of a resource found only in one place gives a natural monopoly.