Which of following is the best example of a monopoly if we use a ...

[jhjkgdfhk]

Which of following is the best example of a monopoly if we use a broader definition of monopoly?
 
  A) Santos Tacos, the only taqueria in the small town of Santosville
  B) Cheap Gas, one of two gasoline stations in a large rural community
  C) Spuds McKenzie, a wealthy potato farmer in Idaho
  D) Zippie Rentals, a sports car rental service in the downtown Boston area

Question 2

If we use a narrow definition of monopoly, then a monopoly is defined as a firm
 
  A) that has the largest market share in an industry.
  B) that can ignore the actions of all other firms because it produces a superior product compared to its rivals' products.
  C) that can ignore the actions of all other firms because it produces a product for which there are no close substitutes.
  D) that has been granted special production rights by the government.

[jaykayy05]

Answer to Question 1

A

Answer to Question 2

C