QUESTION 1 Which of the following firms is most likely to be a monopoly? O A restaurant in a large city The water and sewage company in a medium-sized city O A gas station in a small city A car manufacturer in the United States QUESTION 2 Unlike firms in perfectly competitive markets, monopolies can set their price at any level they choose O True O False QUESTION 3 Because monopolies can set their prices at any level they choose, monopolies can earn unlimited profits O True O False