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Author Question: A market situation where a small number of sellers compose the entire industry is called: a. ... (Read 80 times)

bucstennis@aim.com

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on: Jun 30, 2018
A market situation where a small number of sellers compose the entire industry is called:
 a. monopolistic competition.
  b. monopoly.
 c. oligopoly.
 d. perfect competition.

Question 2

An automobile manufacturer imported equipment in order to produce a particular model at low cost. Falling demand, however, forced it to cease producing that model, and the company took a large loss because the equipment was not usable for producing other models. The equipment was characterized by:
 a. locational specificity.
  b. dedicated specificity.
  c. human specificity.
  d. task specificity.


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annierak

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Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

D


bucstennis@aim.com

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

scikid

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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