Question

Which of the following scenarios is an example of a monopoly?

Answer 1

Answer:

I believe it is A

Explanation:

Since only one company provides the service in a major city, than they have control over the supply and trade in that service because they don’t share that service with any other company.

Answer 2

The answer would be A.
A monopoly means that there are many sub-companies or investors but they all come under a bigger company (think of an umbrella).
B wouldn’t be the answers because there’s many providers.
C Wouldn’t be the answer because usually there is only one service being sold and it doesn’t explain whether there’s 1 or many providers.
D is tricky because a monopoly can increase their prices since they’re the only ones that offer a certain service however, a change in price usually comes when there’s other competitors.