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Use the Figure Below to Answer the Following Question

Question 87

Multiple Choice

Use the figure below to answer the following 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.
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.

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