Which of the following statements is generally true?
A) Rivalry is less the larger the number of firms in an industry.
B) The smaller the number of firms in an industry, the greater the rivalry.
C) The degree of rivalry in an industry is largely independent of the number of firms.
D) The larger the number of firms in an industry, the greater the rivalry.
Question 2
Which of the following information about fiat money is false? Fiat money
A) has little to no value except as money.
B) serves as a medium of exchange.
C) is backed by gold.
D) is authorized by a central bank or governmental body.
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