The largest cattle rancher in a given region will be unable to have a _______ sufficient numbers of smaller cattle ranchers provide sources of competition.
A) oligopoly
B) patent
C) monopoly
D) monopolistic competition

Question

Quizplus · Accepted Answer

A monopoly exists when a single entity is the sole provider of a particular product or service, thus if the largest cattle rancher in a region is unable to face sufficient competition from smaller ranchers, it implies that this rancher has a monopoly in that region.

The Largest Cattle Rancher in a Given Region Will Be