Which of the Following,if True,would Be an Example of a Monopolistically

question 17

Multiple Choice

Which of the following,if true,would be an example of a monopolistically competitive industry?

• A)In the utilities industry,average cost declines over all levels of output.
• B)In the automobile industry,fixed costs as well as variable costs are high.
• C)In the retail trade industry,a large number of firms provide similar products.
• D)In the steel industry,a dominant part of the market is served by one firm.
• E)In the pharmaceuticals industry,the entire market is served by a small number of large firms.

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Definitions:

Strategic Alliances

Business agreements between two or more companies to work together toward achieving mutually beneficial strategic goals.

IT and Internet

The study and application of systems for storing, retrieving, and sending information through computers and telecommunication devices.

Bureaucracy

A system of government or business that is characterized by fixed rules, a hierarchy of authority, and a complex structure of administration and control.

Worker Empowerment

Strategies and practices that give employees authority and power to make decisions and contribute to the company's success.