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In 2019, Nolle Santos opened The Lit. Bar bookstore in the Bronx borough of New York City. Her bookstore is the only one located in
In 2019, Nolle Santos opened The Lit. Bar bookstore in the Bronx borough of New York City. Her bookstore is the only one located in the Bronx, which has a population of about 1.5 million. Source: Ginia Bellafante, "A Bookstore, Finally, Comes to the Bronx,"New York Times, April 25, 2019. Should the only bookstore in the Bronx, or any other city, be considered a monopoly? OA. No, in the narrow definition of the term, The Lit. Bar bookstore would be considered a monopoly only if it had no close substitutes. OB. No, The Lit. Bar bookstore would be considered a monopoly only if it were located in a small town, and the Bronx has a population of about 1.5 million. OC. Yes, according to the narrow definition of the term, since The Lit. Bar bookstore is the only supplier of books in the Bronx, it would be considered a monopoly. OD. Yes, since The Lit. Bar bookstore is the only bookstore in the Bronx, barriers to entering the market must be high enough to keep out competing bookstores. Why wouldn't another entrepren
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