The world's second-largest manufacturer of widgets just went out of business. This caused the world's largest widget
manufacturer, Widget Town, to be the last remaining widget producer. What is this situation called and how can Widget Town
take advantage of it? (1 point)
O
Widget Town is now a monopoly. It could split into two firms that both create widgets, which would increase
competition and benefit the consumer.
Widget Town is now an oligopoly. It could split into two firms that both create widgets, which would increase
competition and benefit the consumer.
O Widget Town is now a monopoly. It can raise its prices to earn a larger profit.
O Widget Town is now an oligopoly. It can raise its prices to earn a larger profit.