Asked by Jaren Harth on May 17, 2024
Verified
Which statement is true?
A) Rival companies have captured about one-third of the $100 billion local phone market from local phone companies.
B) Local phone companies have complete monopolies over the market for local phone calls.
C) Some local phone companies have begun to compete with rival firms.
D) None of these statements are true.
Local Phone Market
The segment of the telecommunications industry that deals with providing telephone services within a specific geographic area.
Complete Monopolies
Situations where a single firm or entity has exclusive control over the supply of a particular good or service, with no close substitutes available.
Rival Companies
Firms operating in the same industry that compete against each other for market share.
- Acquire an understanding of the rules and regulations that apply to monopolies and public utilities.
Verified Answer
AS
Amani SammouriMay 21, 2024
Final Answer :
C
Explanation :
While it is not accurate to say that local phone companies have complete monopolies, it is also not true that rival companies have captured one-third of the market from them. However, some local phone companies have begun to compete with rival firms, making option C the correct statement.
Learning Objectives
- Acquire an understanding of the rules and regulations that apply to monopolies and public utilities.