The North American Industrial Classification System (NAICS) code is used to reflect the:
a. location of the retailer.
b. industrial category of the retailer.
c. type of merchandise the retailer sells.
d. size of the retailer in terms of sales dollars.
e. margin the retailer maintains in its industrial category.
Question 2
The distinction between monopolistic competition and oligopolistic competition is that in monopolistic competition there are fewer sellers than in oligopolistic competition.
Indicate whether the statement is true or false