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Author Question: All of these are characteristics of a competitive industry, except: a. Many substitutes b. No ... (Read 39 times)

jasdeep_brar

  • Hero Member
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  • Posts: 569
on: Jul 1, 2018
All of these are characteristics of a competitive industry, except:
 a. Many substitutes
 b. No barriers to entry
 c. Homogenous product
 d. Little or no information on rivals' products

Question 2

If the bidders at an oral auction have true values of 8, 7, 6, and 5, the item will sell for
 a. 8
 b. 7
 c. just over 7
 d. just under 7


kxciann

  • Sr. Member
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  • Posts: 356
Reply #1 on: Jul 1, 2018
Answer to Question 1

d

Answer to Question 2

c


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