All of these are characteristics of a competitive industry, except: a. Many substitutes b. No ...

Author Question: All of these are characteristics of a competitive industry, except: a. Many substitutes b. No ... (Read 8 times)

jasdeep_brar

Hero Member
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
Posts: 356

Reply #1 on: Jul 1, 2018

Answer to Question 1

d

Answer to Question 2

c

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