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Definition of Natural monopoly
1. Noun. Control over the market for a product which occurs when a firm gains large benefit from economies of scale, or from a superior business model or product, and is thus able to produce a very large percentage of the total market demand for a given product and unintentionally exclude meaningful competition via price structures. ¹
¹ Source: wiktionary.com
Lexicographical Neighbors of Natural Monopoly
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