You Live in a Small Town and There Is Only

question 3

Multiple Choice

You live in a small town and there is only one Indian restaurant in the town. The next nearest Indian restaurant is 30 kilometres away. Is this Indian restaurant a monopoly?

• A) no, because there are close substitutes for the Indian restaurant such as other restaurants in town and Indian food sold in the local supermarket
• B) no, because there are Indian restaurants in other towns
• C) yes, because it is the only Indian restaurant in the town
• D) yes, because the demand curve facing the Indian restaurant is downward sloping

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Definitions:

Vitreous Humor

The clear, gel-like substance that fills the space between the lens and the retina in the eye, maintaining its shape.

Cornea

The cornea is the transparent front part of the eye that covers the iris, pupil, and anterior chamber, playing a key role in focusing visual images.

Cone Cells

Photoreceptor cells in the retina of the eye responsible for color vision and visual acuity under bright light conditions.

Rhodopsin

A pigment found in the photoreceptor cells of the retina, essential for vision in low-light conditions.