Joe Santos owns the only pizza parlor in a small town that is also home to a McDonald's, a Taco Bell, and a Kentucky Fried Chicken.Using a broad definition of a monopoly, Joe has a monopoly.

Question

Quizplus · Accepted Answer

A monopoly refers to a situation where a single company or individual dominates a particular market, industry, or area. In this case, Joe Santos is the only pizza parlor in the town, and there are no other direct competitors within the area. Even though there are other fast-food chains in the town, Joe has a monopoly over the pizza market in the town. Hence, option A is correct.

Joe Santos Owns the Only Pizza Parlor in a Small