Engineering Economics
A ______ is a market situation where economies of scale are so significant that cost are only minimized when the entire output of an industry is supplied by a single producer so that the supply costs are lower under monopoly that under perfect competition.

Perfect monopoly
Bilateral monopoly
Natural monopoly
Ordinary monopoly

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Engineering Economics
Pick up the correct reason for making conceptual (or preliminary) estimate from the following:

To check quotations from contractors and/or sub-contractors
All of these
To have a check on a definitive cost estimate
To compute target estimate for the owner while drawing and specifications are in initial stage

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