Use the figure below to answer the following question.

Figure 15.1.1
In the figure, D is the demand curve for taxi rides in a town, and ATC is the average total cost curve of a taxi company.
-Refer to Figure 15.1.1. In the scenario above, the market is
A)a natural duopoly.
B)a natural oligopoly with three firms.
C)a natural monopoly.
D)monopolistically competitive.
E)perfectly competitive.

Question

Use the figure below to answer the following question.
  
Figure 15.1.1
In the figure, D is the demand curve for taxi rides in a town, and ATC is the average total cost curve of a taxi company.
-Refer to Figure 15.1.1. In the scenario above, the market is
A)a natural duopoly. 
B)a natural oligopoly with three firms. 
C)a natural monopoly. 
D)monopolistically competitive. 
E)perfectly competitive.

Quizplus · Accepted Answer

The Answer of Use the figure below to answer the following question.
  
Figure 15.1.1
In the figure, D is the demand curve for taxi rides in a town, and ATC is the average total cost curve of a taxi company.
-Refer to Figure 15.1.1. In the scenario above, the market is
A)a natural duopoly. 
B)a natural oligopoly with three firms. 
C)a natural monopoly. 
D)monopolistically competitive. 
E)perfectly competitive.

Use the Figure Below to Answer the Following Question