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2. Eighty-ve percent of the soup sold in the US. is Campbell's brand soup. Some people have claimed that Campbell's nearly has a monopoly in

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2. Eighty-ve percent of the soup sold in the US. is Campbell's brand soup. Some people have claimed that Campbell's nearly has a monopoly in the soup market. What kind of evidence could we use to determine whether Campbell Soup Company is a monopoly or not? Explain. (Hint: Obviously Campbell's is not a pure monopoly, since there are other soups besides Campbell's. But Campbell Soup may nonetheless have a great deal of monopoly power, that is, it may be able to act very much like a monopoly. So to answer this question, think of what a monopoly can do that rms in a perfectly competitive market cannot do.)

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