Text D, Paragraph 2
As a result of the risk of climate change and the associated costs, many economists agree that travel by rail instead of plane or gasoline-fuelled engine cars should be promoted. However, even in Austria, the annual growth of passenger rail travel has slowed down to only 1.04% in 2021 compared to 5.85% in 2010. Rail networks are considered an example of a natural monopoly.
Outline the reason why a railway network is considered an example of a natural monopoly, as indicated in (Text D, paragraph 2).
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