Question

The great baseball player Ty Cobb was known for being very thrifty. Near the end of his life he was interviewed by a reporter who was surprised to find that Cobb used​ candles, rather than​ electricity, to light his home. From Ty​ Cobb's point of​ view, was the local electric company a​ monopoly? For​ Cobb, the local electric company
A. was a monopoly because it produced only one good.
B. was not a monopoly because it earned no economic profit.
C. was a monopoly because it was the only source of electricity.
D. was not a monopoly because candles were a good substitute for electricity.
E. was a monopoly because it charged high prices for electricity.

Answer 1

Answer:

D

Explanation:

From Ty Cobbs point of view it was not a monopoly because candles were a good substitue for electricity. Both produce light so Cobbs as being a very thrifty person would want a substitute that will allow him to curtail his expenditures using candles will definitely be less expensive .