1.10 In which of the seven cases might monopoly arise?

◆ Coca-Cola cuts its price below that of Pepsi-Cola in an attempt to increase its market share.
◆ A single firm, protected by a barrier to entry, produces a personal service that has no close substitutes.
◆ A barrier to entry exists, but the good has some close substitutes.
◆ A firm offers discounts to students and seniors.
◆ A firm can sell any quantity it chooses at the going price.
◆ The government issues Nike an exclusive licence to produce footballs.
◆ A firm experiences economies of scale even when it produces the quantity that meets the entire market demand.