Empirical Evidence from Electric-Power-Producing Firms Suggests That the Largest Electric-Power-Producing

Empirical evidence from electric-power-producing firms suggests that the largest electric-power-producing firms are not natural monopolies because

A) the average cost curve for these firms is U-shaped.
B) no electric-power-producing firms are natural monopolies.
C) the largest firms enjoy economies of scale.
D) the designation of natural monopoly can only be bestowed by the government.

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