Which of the Following Is LEAST Likely to Be a Monopoly

question 499

Multiple Choice

Which of the following is LEAST likely to be a monopoly?

• A) the holder of a public franchise
• B) a pharmaceutical company with a patent on a drug
• C) a store in a large shopping mall
• D) an artist who owns a copyright for a painting

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Definitions:

Shopping Mall

A large indoor complex typically comprised of various retail stores, food outlets, and sometimes entertainment facilities.

Sociologist

A social scientist who studies the behavior, interactions, and organization of people within societies.

Binomial Experiment

A statistical experiment that follows the binomial distribution, characterized by having a fixed number of trials, two possible outcomes, independence, and constant probability of success.

Successes

Refers to the number of times a desired outcome occurs in a given scenario.