Use the Following Statements to Answer This Question: I

question 115

Multiple Choice

Use the following statements to answer this question: I. Markets that have only a few sellers cannot be highly competitive.
II) Markets with many sellers are always perfectly competitive.

• A) I and II are true.
• B) I is true and II is false.
• C) II is true and I is false.
• D) I and II are false.

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Definitions:

Noncompetition Agreements

Contracts restricting a person's ability to work in a competing business or industry for a specified period after leaving an employer.

Trade Secrets

Confidential information, practices, or processes used by a company that provide it with a competitive advantage.

Employment Relationship

The legal and practical connection between an employer and an employee.

Lanham Act

The primary federal statute that governs trademarks, service marks, and unfair competition in the United States.