Chimney sweeps in Germany must be licensed by the central government. Each chimney sweep can only...

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Chimney sweeps in Germany must be licensed by the centralgovernment. Each chimney sweep can only clean chimneys in a giventown, part of a city, or given rural area. In addition, thegovernment requires every home with a chimney to be cleaned atregular intervals, and the home owner must be able to show anup-to-date certificate of compliance from their area’s chimneysweep. The sweeps cannot clean chimneys outside their areas. Thegovernment strictly limits the number of licenses. There have beendiscussions of simply increasing the number of licenses to thosewho can qualify and letting any chimney sweep clean chimneysanywhere in Germany.
1. Explain what is the definition of a monopoly.
2. Discuss how the following example fits or doesn't fit thecriteria for a monopoly.
3. What is likely to happen to the price of chimney sweepingservices if such a plan is implemented?
4. Do you agree or disagree with the proposed plan?Explain.

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Q1 Explain what is the definition of a monopoly A A monopoly can be defined as the control or restriction of any trade of a product or service in a particular area where there are no competitors or options available to consumers and there are no other options available 2 Discuss how the following example fits or doesnt fit the criteria for a monopoly A This example fits the criteria of a monopoly In fact this is not an economic monopoly but rather a See Answer

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