The simplest way for a monopoly to arise is for a single firm to:
A)own a key resource
B)inflate its prices
C)cut production to increase demand for a product
D)collude with the other producers in town

Question

Quizplus · Accepted Answer

If a single firm owns a key resource, it can prevent other firms from competing in the market by controlling access to the resource. This can lead to a monopoly as there is no other firm that can produce the product without the resource.

The Simplest Way for a Monopoly to Arise Is for a Single