If a Local Community Has Only One Doctor, the Monopoly

question 180

Multiple Choice

If a local community has only one doctor, the monopoly power of the physician will

• A) be small if entry barriers into the local market are high.
• B) depend on how many other physicians there are in the national market.
• C) be total since there are not any other providers of the same service in the local market.
• D) be minimal if the entry barriers restricting competition from other physicians are low.

---

Definitions:

Judicial Activism

A judicial philosophy that the courts can and should go beyond the applicable law to consider broader societal implications and influence public policy.

Ambiguously Worded Statutes

Laws or regulations that are not clearly defined, leading to varying interpretations and potential confusion.

Administrative Agencies

Bodies established by governments to execute laws and regulations within specific areas, such as environmental protection, taxation, and transportation.

Statutory Interpretation

The process by which courts interpret and apply legislation, including determining the law's meaning and scope.