Which of the Following Scenarios Best Represents a Monopoly Situation

question 202

Multiple Choice

Which of the following scenarios best represents a monopoly situation?

• A)Bill and Tom work separately from one another but both sell a very rare form of the same diamond; they are the only sellers of this type of diamond in town
• B)Bill owns the only grocery store in a small community that lies 200 miles from the nearest city
• C)Tom owns a fishing tackle shop in Miami, Florida, in which he sells all the top-of-the-line fishing equipment
• D)none of the above adequately represent a monopoly

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Definitions:

Justices

Judges serving on a court, especially the higher courts such as the Supreme Court.

Deposition

A sworn, out-of-court testimony by a witness or party in a legal case, usually recorded for later use in court.

Pretrial Discovery

A legal process in which parties to a lawsuit gather information from each other prior to trial to prepare their cases.

Sworn Testimony

Testimony given under oath by a witness in a legal proceeding, regarded as evidence.