객관식
A government-created monopoly arises when:
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12. Monopoly
Characteristics of Monopoly
객관식
In many large U.S. cities, taxicab companies operate as near monopolies because of which of the following?
A
government-issued licenses that restrict entry
B
the presence of many competing ride-sharing companies
C
low fixed costs of operating a taxi business
D
high consumer demand for taxi services
검증된 단계별 안내1
Step 1: Understand the concept of a monopoly in microeconomics. A monopoly exists when a single firm is the sole provider of a good or service in a market, often due to barriers to entry that prevent other firms from competing.
Step 2: Identify common barriers to entry that can create or sustain a monopoly. These include government regulations, high startup costs, control of essential resources, or technological advantages.
Step 3: Analyze the options given in the problem. Consider how each factor affects the ability of new firms to enter the taxi market:
- Government-issued licenses that restrict entry create a legal barrier, limiting the number of firms allowed to operate.
- The presence of many competing ride-sharing companies suggests competition, which contradicts a monopoly.
- Low fixed costs would typically encourage more firms to enter, reducing monopoly power.
- High consumer demand alone does not create a monopoly; it affects market size but not entry barriers.
Step 4: Conclude that the key reason for near-monopoly status in many large U.S. cities is the government-issued licenses that restrict entry, as these licenses limit competition by legally controlling who can operate taxis.
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