Which of the following markets is closest to a monopoly?
A) a firm with a 90% market share
B) the only gas station for 100 miles
C) cable television
D) garbage disposal

Question

Quizplus · Accepted Answer

The only gas station for 100 miles is the closest to a monopoly as it has complete control over the market in that area, leading to no competition for consumers. While a firm with a 90% market share may have strong market power, there are likely still other firms in the industry that are competing with them. Cable television and garbage disposal may have limited competition, but there are still multiple providers in most areas.

Which of the Following Markets Is Closest to a Monopoly