Multiple Choice
Which of the following firms best fits the definition of a monopoly?
A) McDonald's, because it is the only firm who produces the Big Mac
B) a local cable company that has been granted the only license to sell cable in a city by the town council
C) Ford Motor Company, because there are significant economies of scale in the production of automobiles
D) Harvard University, because it has a reputation as being one of the top universities in the country
Correct Answer:
Verified
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