ENTREPRENEURSHIP

Detailed explanation-1: -For example, the utility industry is a natural monopoly.

Detailed explanation-2: -Bottle water is categorized as a monopolistic market since numerous firms in the economy differentiate their product from those of the competitors.

Detailed explanation-3: -An electric company is a classic example of a natural monopoly. Once the gargantuan fixed costs involved with power generation and power lines is payed, each additional unit of electricity costs very little; the more units sold, the more the fixed costs can be spread, creating a reasonable price for the consumer.