A Particular Industry Has Only a Few Competitors,who Have Some

question 123

Multiple Choice

A particular industry has only a few competitors,who have some control over price.However,high start-up costs make entry into the industry difficult.This industry is an example of _____.

• A)pure competition
• B)monopolistic competition
• C)an oligopoly
• D)a pure monopoly

---

Definitions:

Formal Lines

Established, structured communication channels within an organization, designated for official purposes and messages.

Authority

The authority or capability to issue commands, make choices, and ensure compliance.

Network Structure

An organizational model characterized by distributed power, decentralized decision-making, and a focus on connecting individuals and units as nodes in a larger network.

Full-Time Employees

Individuals who work a minimum number of hours defined by their employer, typically with a full workweek, and are entitled to full employment benefits.