which scenario best illustrates the dangers of a monopoly for consumers?\njasmine is looking for a new…

which scenario best illustrates the dangers of a monopoly for consumers?\njasmine is looking for a new sweater. she wants one that is a dusty blue to go with a new pair of blue jeans. she finds nice sweaters in three stores, but only one store has the shade of blue she wants.\nmarcus needs a new pair of running shoes. he only likes one brand and one style of shoe in that brand. he is upset when he cannot find the shoe he wants in his size in any store in town or online.\nana uses one brand of peanut butter because it is the brand her grandmother uses. she is shocked when she discovers that a company has bought that brand and is discontinuing it in favor of their own.\nlek has a rare medical condition. company x has developed a pill that is an effective treatment. it is the only company that can make the medicine. the company charges an extremely high price for each pill.

which scenario best illustrates the dangers of a monopoly for consumers?\njasmine is looking for a new sweater. she wants one that is a dusty blue to go with a new pair of blue jeans. she finds nice sweaters in three stores, but only one store has the shade of blue she wants.\nmarcus needs a new pair of running shoes. he only likes one brand and one style of shoe in that brand. he is upset when he cannot find the shoe he wants in his size in any store in town or online.\nana uses one brand of peanut butter because it is the brand her grandmother uses. she is shocked when she discovers that a company has bought that brand and is discontinuing it in favor of their own.\nlek has a rare medical condition. company x has developed a pill that is an effective treatment. it is the only company that can make the medicine. the company charges an extremely high price for each pill.

Answer

Brief Explanations:

A monopoly exists when a single - firm is the sole provider of a good or service. In Lek's case, Company X is the only one that can make the medicine for his rare medical condition. The company can exploit its monopoly power by charging extremely high prices since consumers have no other alternatives. In the other scenarios, there are issues of product availability or brand - related problems, but not the exploitation of monopoly power.

Answer:

Lek has a rare medical condition. Company X has developed a pill that is an effective treatment. It is the only company that can make the medicine. The company charges an extremely high price for each pill.