China Has Approximately 95% of the World's Neodymium, a Rare

China has approximately 95% of the world's Neodymium, a rare earth metal used in consumer and military electronics and contemporary technology. The fact that this is a necessary metal for the production of many products we use today-everything from smartphones to smart bombs-means China can almost name its price! Which of the following describes this situation?

A) China has a near absolute advantage in Neodymium.
B) China has a comparative advantage in Neodymium.
C) China's rare earth industry is considered perfect competition.
D) China's rare earth industry participates in monopolistic competition.