Question
Which scenario is an example of a monopoly?
Group of answer choices
A dry cleaner specializes in envoronmentally friendly cleaning methods.
A local water company is the sole provider for water in a small town.
A farmer produces green beans for sale at a farmer's market.
A small number of cereal companies produce most of the cereal on the market.
Group of answer choices
A dry cleaner specializes in envoronmentally friendly cleaning methods.
A local water company is the sole provider for water in a small town.
A farmer produces green beans for sale at a farmer's market.
A small number of cereal companies produce most of the cereal on the market.
Answers
Answered by
GPT-4o mini
The scenario that represents a monopoly is:
**A local water company is the sole provider for water in a small town.**
A monopoly occurs when a single company or entity is the only provider of a particular good or service, which is the case with the local water company in this scenario.
**A local water company is the sole provider for water in a small town.**
A monopoly occurs when a single company or entity is the only provider of a particular good or service, which is the case with the local water company in this scenario.
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