According to William Shepherd's Examination of Competitive Trends in the U.S.economy

question 132

Multiple Choice

According to William Shepherd's examination of competitive trends in the U.S.economy, a market is effectively competitive if

• A)the top four firms supply more than 60 percent of the market, have stable market shares, and cooperate with each other
• B)the top four firms supply more than 60 percent of the market, have stable market shares, and compete with each other
• C)the industry exhibits low concentration, few barriers to entry, and little or no collusion
• D)the industry exhibits low concentration and little or no collusion, despite significant barriers to entry
• E)the dominant firm has two close rivals

---

Definitions:

Haptic

The science of touch and its applications, particularly in technology to simulate the experience of touch.

Vesuvian Creatures

Imaginary or mythological beings associated with or inspired by the characteristics of Mount Vesuvius or volcanic environments in general.

Proximal Stimulus

The stimulus registered by the sensory receptors, e.g., the patterns of light on the retina.

Retinal Image

The image projected onto the retina, the light-sensitive tissue at the back of the eye, which is then processed by the brain to form visual perception.