Author Question: The electronics market in Tunica is completely dominated by JC Inc., a company that manufactures ... (Read 66 times)

RODY.ELKHALIL · **on:** Jul 8, 2018

The electronics market in Tunica is completely dominated by JC Inc., a company that manufactures electronic components and gadgets. The company produces most of the essential goods in large quantities and has no competition.

The company has recently
increased the prices of its products because of their high demand and this is affecting
the consumers adversely. This type of market domination by a single firm represents a
market failure referred to as ________.
A. externality
B. monopoly
C. information asymmetry
D. bankruptcy
E. marketing myopia

Question 2

As part of Gorbachev's package of reforms for the new Soviet government in 1989 he called for the creation of a new executive president.

Indicate whether this statement is true or false.