Panamint Springs, California, is located on State Route 190 (SR190). The community's gas station is the last one for miles in either direction on SR190. This means that this gas station:

a) will earn zero economic profit

b. is a monopoly.

c. has monopoly power.

d. is a natural monopoly.

Question

Social Studies

Lucas Fox

26 May, 13:22

Panamint Springs, California, is located on State Route 190 (SR190). The community's gas station is the last one for miles in either direction on SR190. This means that this gas station:

a) will earn zero economic profit

b. is a monopoly.

c. has monopoly power.

d. is a natural monopoly.

+1

Answers (1)

Know the Answer?

Aaliyah Brennan · Answer 1

c. has monopoly power.

Explanation:

Panamint Springs has monopoly power, this means that being the last gas station on the root, they have control over price. Most vehicles will have no choice but to buy gas at whatever price the seller fixes.

Panamint Springs, California, is located on State Route 190 (SR190). The community's gas station is the last one for miles in either direction on SR190. This means that this gas station:a) will earn zero economic profitb. is a monopoly.c. has monopoly power.d. is a natural monopoly.

Panamint Springs, California, is located on State Route 190 (SR190). The community's gas station is the last one for miles in either direction on SR190. This means that this gas station:

a) will earn zero economic profit

b. is a monopoly.

c. has monopoly power.

d. is a natural monopoly.