If a firm was able to acquire control over access to bauxite, the ore used in aluminum manufacturing, it would gain monopoly control of the aluminum industry because that firm
A)holds a patent.
B)is given the right to control the market by government.
C)controls an essential input.
D)is a natural monopoly.

Question

Quizplus · Accepted Answer

The firm being able to acquire control over access to bauxite means that it is controlling an essential input used in producing aluminum. This would give the firm monopoly control over the aluminum industry, as no other firm would be able to produce aluminum without access to bauxite. The other choices are not applicable in this scenario.

If a Firm Was Able to Acquire Control Over Access