Two Firms Make Most of the Consumer Alkaline Batteries in the Country

question 66

Multiple Choice

Two firms make most of the consumer alkaline batteries in the country: Duracell and Energizer. The market for batteries is most likely

• A) a monopoly.
• B) an oligopoly.
• C) perfectly competitive.
• D) monopolistically competitive.

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Definitions:

Sealed-bid Auctions

A bidding process where all bidders submit their bids confidentially, with the highest bid usually winning the item or contract.

Bid-rigging

A form of fraud in which competitors agree in advance who will win a bidding process, undermining fair competition.

Sealed-bid Auctions

Auctions in which all bidders simultaneously submit sealed bids to the auctioneer, with no bidder knowing the bid of any other participant.

Bid Rotation

A form of collusion in auction markets where participants take turns being the lowest bidder to ensure each wins a proportion of contracts over time.