Which of the following differentiates oligopoly from perfect competition?
A) In an oligopoly, firms have the ability to differentiate their products from competitors, while in perfect competition, firms remain in a high rivalry where the actions of one firm affect the other
B) In an oligopoly, there are relatively few companies that dominate the market; while in perfect competition, many similar firms compete in the market.
C) In perfect competition, customers have few viable substitutes available; while in an oligopoly, customers have many substitutes to choose from.
D) In an oligopoly, firms have the ability to promote their products differently from competitors; while in perfect competition, product differentiation helps companies compete.
E) In perfect competition, companies have total control over price because they can differentiate their products; while in an oligopoly, companies have no influence on the price.
B
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Which of the following is an informal method used by marketers to evaluate connectors?
A) asking customers and other practitioners to identify promotional channels. B) having connectors answer in-depth, personal questionnaires. C) determining whether connectors will agree to carry product placement messages. D) meeting with each connector on an individual basis. E) hiring an investigative firm to conduct background checks.
Control charts for variables are based on data that come from:
A) acceptance sampling. B) individual items. C) averages of small samples. D) averages of large samples. E) the entire lot.