A monopoly is a market structure where a single producer or seller dominates the market by selling a unique product or service. Monopolies are rare, and they are often created by government regulations that limit competition in a certain sector, or when a business creates so much market share that it is considered the only provider of a certain product or service.

In many countries, monopolies are illegal and are considered to be a form of market abuse, as they lead to reduced consumer choice, lower quality products or services, and inflated prices. However, some governments have allowed certain monopolies to exist in order to provide necessary services, such as in sectors such as utilities and transportation.

So which of the following is most likely to be a monopoly?

• A small local corner store?
• A fast food chain?
• A local electricity provider?
• A cable television provider?

The answer to this question depends on the specific market in question. A small local corner store is unlikely to be a monopoly, as there are likely many other stores competing for customers in the same area. A fast food chain could become a monopoly if it is able to gain market share and become the only major provider of fast food in a certain area, but this is unlikely in most cases.

On the other hand, a local electricity provider is a much more likely candidate for a monopoly. In many countries, electricity is considered a necessity and is typically provided by one large utility company. Similarly, cable television providers often become monopolies, as they are the only option in a particular area due to exclusivity agreements between the provider and the local cable operators.

In summary, while any business can become a monopoly under certain conditions, the most likely candidates for a monopoly are typically those that provide a necessary service and lack competition in the local area.