Which of the following statements regarding the agricultural industry is correct?
A) Economies of scale and consolidation have significantly reduced the degree of competition in the industry.
B) Corporate farms now control more than 50 percent of the market for each of the major crops.
C) The largest 5 percent of growers of any particular product are characterized by a small number of interdependent producers.
D) Although farming has become increasingly concentrated over the last 70 years, it is still a highly competitive industry.
D
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National income is the income that individuals and firms earn from their production
Indicate whether the statement is true or false
The joining of two or more firms competing in the same market with the same good or service:
a. Stockholm enterprise b. partnership c. vertical merger d. horizontal merger e. Pineapple Ring