Normander Corp. is a large media corporation that owns all the media outlets in Liecheben and a few news agencies internationally. Any new media company that tries to establish itself in Liecheben soon runs out of business because of the overpowering presence of Normander Corp. This scenario exemplifies _____.
A) pure competition
B) monopoly
C) monopolistic competition
D) oligopoly

Question

Quizplus · Accepted Answer

Normander Corp. exemplifies a monopoly because it is the sole dominant media corporation in Liecheben, preventing new media companies from successfully entering the market.