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Author Question: Suppose the market for gasoline retailing (gas stations) in an island economy has 12 firms. The two ... (Read 33 times)

rissygurl1124

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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
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Marked as best answer by rissygurl1124 on Oct 12, 2022

my33251

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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.
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rissygurl1124

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Reply 2 on: Oct 12, 2022
Great answer, keep it coming :)

isabelt_18

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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