The Form of Competition in Which Many Sellers Compete with Their

question 41

Multiple Choice

The form of competition in which many sellers compete with their products on a substitutable basis within a price range is called

• A)pure competition.
• B)cross-market competition.
• C)an oligopoly.
• D)monopolistic competition.
• E)a monopoly.

---

Definitions:

Activity Rate

The measure used to allocate costs to activities based on their use of resources.

Activity Cost Pool

A grouping of all the costs related to a particular activity, used in activity-based costing to more accurately allocate costs to products or services.

Activity-Based Costing

A costing method that allocates overhead costs to specific activities, providing more accurate costs of producing specific products or services.

Overhead Applied

The process of assigning a portion of fixed and variable overhead costs to individual units of production based on a predetermined rate.