The simplest way for a monopoly to arise is for a single firm to
A)decrease its price below its competitors' prices.
B)decrease production to increase demand for its product.
C)make pricing decisions jointly with other firms.
D)own a key resource.

Question

Quizplus · Accepted Answer

Owning a key resource can create a monopoly because other firms are unable to access that resource, giving the monopolist sole control over the production and supply of a particular good or service.

The Simplest Way for a Monopoly to Arise Is for a Single