The cookie industry in Eatsweetland consists of 15 firms. The industry sales are $80 million per month. The sales of the largest 5 firms are shown in the table below. The rest 10 firms have sales of $3 million each. The U.S
Department of Justice would classify the market for cookies in Eatsweetland as A) competitive.
B) uncompetitive.
C) moderately competitive.
D) monopolistic.
C
Economics
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Sunk costs can be controlled after they are paid
Indicate whether the statement is true or false
Economics
Which of the following describes a characteristic of a perfectly competitive market?
A) There are many buyers but few sellers. B) There are many sellers but few buyers. C) There are many buyers and sellers. D) Equilibrium is achieved when demand for the product sold in the market equals the supply.
Economics