Companies delivering mixed concrete know that it cannot be shipped farther than twenty-five miles because the concrete might harden in the truck. Citrus County Concrete Company is the only supplier of mixed concrete to customers within a thirty-mile radius. Citrus County Concrete is an example of which one of the following competitive structures?
A)Monopoly
B)Oligopoly
C)Monopolistic competition
D)Pure competition
E)Monopsony

Question

Quizplus · Accepted Answer

Citrus County Concrete Company is a monopoly because it is the only supplier of mixed concrete within a specific geographic area, giving it exclusive control over the market in that region.

Companies Delivering Mixed Concrete Know That It Cannot Be Shipped