A market that consists of only a few large firms is probably a(n):

Refer to the above figure. Profits for this firm are negative

A) only for all points less than B. B) only at points B and C. C) for points between B and C. D) for all points less than B and greater than C.

A flour mill holding exclusive contracts to 95% of the wheat in a large geographic area may operate as a flour-producing monopoly locally because

A) the mill has a very inelastic supply curve. B) the mill is a natural monopoly. C) the mill controls a key input. D) the government will declare it a monopoly.