Use the Information Below to Answer the Following Questions

question 45

Multiple Choice

Use the information below to answer the following questions.
Fact 11.1.1 Money in the Bank
Two gas stations stand on opposite sides of the road: Rutter's Farm Store and Sheetz gas station.Rutter's doesn't even have to look across the highway to know when Sheetz changes its price for gas.When Sheetz raises the price,Rutter's pumps are busy.When Sheetz lowers prices,there's not a car in sight.Both gas stations survive but each has no control over the price.
Source: The Mining Journal,May 24,2008
-Refer to Fact 11.1.1.These gas stations operate in a ________market.

• A)competitive
• B)noncompetitive
• C)monopolistic
• D)challenging
• E)consumer's

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Definitions:

Buy-in

Agreement and acceptance of an idea, plan, or strategy by all involved or affected parties.

Critical Evaluator

An individual skilled in assessing situations or arguments to make well-founded judgements.

Groupthink

A mental occurrence within a group where the need for agreement or uniformity leads to a decision-making result that is illogical or not functional.

Policy Question

A question that focuses on proposed courses of action or decisions regarding public or organizational policies, often requiring analysis and deliberation.