The reason that the Fisherman's Friend restaurant in Stonington, Maine had a monopoly on selling seafood dinners in that town is most likely due to
A)a government-imposed barrier.
B)occupational licensing.
C)no competitors apparently found the profit level attractive enough to enter the market.
D)the restaurant owned all the fresh seafood in the state.

Question

Quizplus · Accepted Answer

The fact that the Fisherman's Friend restaurant had a monopoly on selling seafood dinners in Stonington, Maine likely indicates that there were no competitors willing to enter the market. The absence of competitors could be due to a lack of demand, low profit margins, or other factors that make the market unattractive. There is no indication of government-imposed barriers, occupational licensing, or ownership of all the fresh seafood in the state.

The Reason That the Fisherman's Friend Restaurant in Stonington, Maine