Consider the market for aluminum the aluminum company of, Ask an Expert

Economics

Consider the market for aluminum. The Aluminum Company of America (Alcoa) used to control all U.S. sources of bauxite, a key ingredient in the production of aluminum. Given that Alcoa did not sell bauxite to any other companies, Alcoa was a monopolist in the U.S. aluminum industry from the late-nineteenth century until the 1940s. Which of the following best explains the barriers to entry that exist in this scenario?

Increasing returns to scale

Legal barriers

Exclusive ownership of a necessary resource

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91725408

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