If economies of scale are so pronounced in an industry that only one firm can survive in the industry, this firm is called a(n) monopoly.

The answer is a natural monopoly

Explanation:

A natural monopoly is one of the forms monopoly that exists due to the high capital needed or powerful economies of scale of conducting a business in a specific industry. A natural monopoly will naturally have very high fixed costs, meaning that it is almost impossible to have more than one firm producing the good.

A firm that is blessed with a natural monopoly might be the only provider of a product or service in an industry or geographic location. Example of natural monopoly is the electricity grid.

the investment was $14,174.196

explanation:

a lump sum means that the father of the example made one deposit and leave it be.

we need to know the value of a capital that generated at 4.05% per year during 28 years the sum of $48,613.24

now clearing the formula to solve for capital we got:

and we reach the answer investment = $14,174.20

answer$225.00;