A local electricity-generating company has a monopoly that is protected by an entry barrier that takes the form of A) control of a key raw material.

economies of scale

Explanation:

Here are the options

control of a key raw material

a perfectly inelastic demand curve

legal monopoly

economies of scale

A monopoly is when there is only one firm operating in an industry. there are usually high barriers to entry of firms. the demand curve is downward sloping. it sets the price for its goods and services.

An example of a monopoly is a utility company

A natural monopoly occurs due to the high start-up costs or a large economies of scale.

Natural monopolies are usually the only company providing a service in a particular region  

Characteristics of natural monopolies  

1.they have a large fixed cost  

2.The firms have a low marginal cost

3.They occur naturally through the free market. It does not occur by government regulation or any other force

For local electricity-generating companies, as output increases, cost per unit falls. This is known as economies of scale

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