Which of the Following Is the Best Example of a Monopolistic

question 58

Multiple Choice

Which of the following is the best example of a monopolistic competitor?

• A) a corn farmer
• B) a weight-loss program
• C) the U.S.Postal Service
• D) a gas station
• E) a localized cement company

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Definitions:

Federal Law

Laws enacted by the national government of a country, which are supreme over state laws within its constitutional powers and apply to citizens and residents throughout the country.

Arbitrator's Decision

A final decision made by an arbitrator, who is a neutral third party, to resolve a dispute outside of court.

National Labor Relations Act

A foundational statute of US labor law which guarantees the rights of private sector employees to organize into trade unions, engage in collective bargaining, and take collective action such as strikes.

Strikes

Work stoppages initiated by employees to protest against poor working conditions, low pay, or other labor issues.