Although the U

question 53

Multiple Choice

Although the U. S. airline industry has only a relatively small number of sellers, the market is nevertheless highly competitive. The reason is that:

• A) the number of buyers is very large.
• B) due to fierce competition, no firm has significant control over prices.
• C) due to fierce competition, no firm has significant control over the quantity supplied.
• D) most airline routes are served by relatively many sellers.