This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Suppose the market for gasoline retailing (gas stations) in an island economy has 12 firms. The two ... (Read 68 times)

rissygurl1124

  • Full Member
  • ***
  • Posts: 157
on: Oct 12, 2022
Suppose the market for gasoline retailing (gas stations) in an island economy has 12 firms. The two largest firms each account for 30% of sales, the third accounts for 15%, the fourth for 7%, the fifth for 4% and the remaining firms for 2% each. Which of the following statements best describes the structure of this local industry?
◦ This industry is an oligopoly.
◦ This industry is a monopoly.
◦ This industry is perfectly competitive.
◦ This industry is monopolistically competitive.
◦ Either A or D could be correct.
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by rissygurl1124 on Oct 12, 2022

my33251

  • Full Member
  • ***
  • Posts: 158
Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 50% of students answer this correctly


rissygurl1124

  • Member
  • Posts: 157
Reply 2 on: Oct 12, 2022
Excellent

  • Member
  • Posts:
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Approximately one in three babies in the United States is now delivered by cesarean section. The number of cesarean sections in the United States has risen 46% since 1996.

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

Did you know?

People about to have surgery must tell their health care providers about all supplements they take.

Did you know?

Disorders that may affect pharmacodynamics include genetic mutations, malnutrition, thyrotoxicosis, myasthenia gravis, Parkinson's disease, and certain forms of insulin-resistant diabetes mellitus.

The spatial distribution of trees in three separate stands of different ages on Vancouver Island (da The spatial distribution of trees in three separate stands of different ages on Vancouver Island (da
Utagawa Hiroshige, Hamamatsu: Winter Scene, plate 30 from The Fifty-Three Stations of the Tokaido, ... Utagawa Hiroshige, Hamamatsu: Winter Scene, plate 30 from The Fifty-Three Stations of the Tokaido, ...
The answer to “What is the proper role of children in an economy?” varies by social class, ... The answer to “What is the proper role of children in an economy?” varies by social class, ...
Markets and Institutions Market Story Problem Markets and Institutions Market Story Problem
Video: Energy Flow - Trophic Levels and Food

For a complete list of videos, visit our video library