Question

Companies delivering mixed concrete know that it cannot be shipped farther than 25 miles because the concrete might harden in the truck. Carter Concrete Supply Co is the only supplier of mixed concrete to customers within a 30-mile radius. Carter Concrete Supply Co is an example of which one of the following competitive structures?
A. Monopoly
B. Oligopoly
C. Monopolistic competition
D. Pure competition
E. Monopsony

Answer 1

Answer:

A. Monopoly

Explanation:

Monopoly is a market structure in which there is a single producer of a good that has no close substitutes.

Since Carter Concrete Supply Co is the only supplier of mixed concrete to customers within a 30-mile radius, it is an example of monopoly competitive structure.