Text3Inrecentyears,railroadshavebeencombiningwitheachother,mergingsintossupersystems,causingheightenedconcernsaboutmonopoly.Asrecentlyas1995,thetopfourrailroadsaccountedforunder70percentofthetotalton-milesmovedbyrails.Nextyear,afteraseriesofmergersiscompleted,justfourrailroadswillcontr olwellover90percentofallthefreightmovedbymajorrailcarriers.
Supportersofthenewsupersystemsarguethatthesemergerswillallowforsubstantialcostr eductionsandbettercoordinatedservice.Anythreatofmonopoly,theyargue,isremovedbyfiercecompetitionfromtr ucks.Butmanyshipperscomplainthatforheavybulkcommoditiestr avelinglongdistances,suchascoal,chemicals,andgrain,tr uckingistoocostlyandtherailroadsthereforehavethembythethroat.
Thevastconsolidationwithintherailindustr ymeansthatmostshippersareservedbyonlyonerailcompany.Railroadstypicallychargesuch“captive”shippers20to30percentmorethantheydowhenanotherrailroadiscompetingforthebusiness.Shipperswhofeeltheyarebeingoverchargedhavetherighttoappealtothefederalgovernment'sSurfaceTransportationBoardforraterelief,buttheprocessisexpensive,timeconsuming,andwillworkonlyintr ulyextr emecases.Railroadsjustifyratediscriminationagainstcaptiveshippersonthegroundsthatinthelongrunitr educeseveryone'scost.Ifrailroadschargedallcustomersthesameaveragerate,theyargue,shipperswhohavetheoptionofswitchingtotr ucksorotherformsoftr ansportationwoulddoso,leavingremainingcustomerstoshoulderthecostofkeepinguptheline.It'stheorytowhichmanyeconomistssubscribe,butinpracticeitoftenleavesrailroadsinthepositionofdeterminingwhichcompanieswillflourishandwhichwillfail.“Dowereallywantr ailroadstobethearbitersofwhowinsandwholosesinthemarketplace?”asksMartinBercovici,aWashingtonlawyerwhofrequentlyrepresentsshipper.Manycaptiveshippersalsoworrytheywillsoonbehiswitharoundofhugerateincreases.Therailroadindustr yasawhole,despiteitsbrighteningfortuningfortunes.stilldoesnotearnenoughtocoverthecostofthecapitalitmustinvesttokeepupwithitssurgingtr affic.Yetr ailroadscontinuetoborrowbillionstoacquireoneanother,withWallStr eetcheeringthemon.Considerthe.2billionbidbyNorfolkSouthernandCSXtoacquireConrailthisyear.Conrail'snetr ailwayoperatingincomein1996wasjustmillion,lessthanhalfofthecarryingcostsofthetr ansaction.Who'sgoingtopayfortherestofthebill?Manycaptiveshippersfearthattheywill,asNorfolkSouthernandCSXincreasetheirgriponthemarket.
第51题：Accordingtothosewhosupportmergersrailwaymonopolyisunlikelybecause
A.costr eductionisbasedoncompetition.
B.servicescallforcross-tr adecoordination.
C.outsidecompetitorswillcontinuetoexist.
D.shipperswillhavetherailwaybythethroat.
正确答案：C
