When Consumers Have No Choice but to Buy from One

question 211

Multiple Choice

When consumers have no choice but to buy from one firm (local utility, etc.) :

• A) they usually end up paying too much for the good or service.
• B) government regulation is usually used to protect consumers.
• C) they will always get the good or service at the lowest price available.
• D) None of these occur.

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Definitions:

Transfer Of Function

A term used to describe a behavior that may one day serve the purpose of getting a student attention and the next day used to escape an unpleasant task.

Behavior

The actions or reactions of an individual, usually in relation to the environment, which can be observed externally.

Outcome

The result or consequence of an action or a series of actions, often evaluated to determine success or progress.

Intent

A purpose or plan that guides an action, representing an individual's determined objective or desired goal.