The markets for laundry detergents, soft drinks, and automobiles all are dominated by just a few sellers. Economists would classify these markets as examples of:
A. monopolistic competition.
B. perfect competition.
C. an oligopoly.
D. a monopoly.
Ans: C. an oligopoly.
Business
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Which of the following occurs when the board of directors declares a 3-for-1 stock split on 20,000 outstanding shares of $25 par common stock?
A) The par value of the stock remains the same. B) The par value of the stock increases to $50 per share. C) The number of outstanding shares remains at 20,000. D) The number of outstanding shares increases to 60,000.
Business
John Jones purchases products to show visible evidence of his ability to afford luxury goods, John is practicing ________
A) brand prominence B) conspicuous consumption C) brand positioning D) homogamy
Business