When Only a Small Number of Producers Compete with Each

question 61

Multiple Choice

When only a small number of producers compete with each other is a defining characteristic of

• A) inelastic supply.
• B) monopolistic competition.
• C) efficient competition.
• D) oligopoly.

---

Definitions:

Big Data

Refers to extremely large data sets that may be analyzed computationally to reveal patterns, trends, and associations, especially relating to human behavior and interactions.

Interest-earning Account

A bank account that provides interest payments on the cash deposited into the account.

Annual Rate

The percentage return on an investment or rate of interest per year, not accounting for the compounding of interest within that year.

Annual Withdraw

Annual Withdraw refers to the amount of money that is taken out of an investment or savings account each year.