Which of the following is correct regarding an unregulated natural monopoly?
a. An unregulated natural monopoly will set output where the average cost curve intersects demand, and will set price equal to average cost.
b. An unregulated natural monopoly will set output where the marginal cost curve intersects demand, and will set price equal to marginal cost.
c. An unregulated natural monopoly will set output where the marginal revenue curve intersects the marginal cost curve, and will set price at the demand curve.
d. An unregulated natural monopoly will set output where the average cost curve intersects marginal revenue curve, and will set price at the demand curve.
c
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