If a Local Ready-Mix Cement Company Is the Only Producer

question 53

Multiple Choice

If a local ready-mix cement company is the only producer of cement in the local market, the monopoly power of the firm will

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

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