Many captive shippers also worry they will soon be hit with a round of huge rate increases. The railroad industry as a whole, despite its brightening fortunes, still does not earn enough to cover the cost of the capital it must invest to keep up with its surging traffic. Yet railroads continue to borrow billions m acquire one another, with Wall Street cheering them on. Consider the $10. 2 billion bid by Norfolk Southern and CSX to acquire Conrail this year. Conrails net railway operating income in 1996 was just $ 427 million, less than half of the carrying cost of the transaction. Whos going to pay for the rest of the bill? Many captive shippers fear that they will, as Norfolk Southern and CSX increase their grip on the market.

　　52. According to those who support mergers, railway monopoly is unlikely because ______.

　　A) cost reduction is based on competition

　　B) services call for cross-trade coordination

　　C) outside competitors will continue to exist

　　D) shippers will have the railway by the throat

　　53. What is many captive shippers attitude towards the consolidation in the railway industry?

　　A) Indifferent. B) Supportive.

　　C) Indignant. D) Worried.

　　54. It can be inferred from Paragraph 3 that ______.

　　A) shippers will be charged less without a rival railroad

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