An Example of a Monopoly Would Be

question 123

Multiple Choice

An example of a monopoly would be

• A) one of many U.S. wheat farmers.
• B) one of the few U.S. auto makers.
• C) AT&T long distance phone service.
• D) the local water company.

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Definitions:

Cartel

An association of independent firms or countries that agree to coordinate their production and pricing to monopolize a market or to influence market conditions.

Monopoly

The market structure that exists when there is only one business providing a product in a given market.