Suppose That Your Firm Has Spent Several Decades Establishing a Well-Known

question 111

Multiple Choice

Suppose that your firm has spent several decades establishing a well-known brand name through advertising.If other firms are prevented from entering your industry because of high advertising expense, your monopoly would result from:

• A) sunk costs.
• B) location.
• C) economies of scale.
• D) government restrictions.

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Definitions:

Conscientiousness

A feature indicating a person's preference for order, their trustworthy nature, and their profound sense of dedication to tasks.

Gregariousness

The quality of being fond of company; sociability.

Cheerfulness

A state of being noticeably happy and optimistic.

Big Five Trait

Components of a personality theory that outlines five broad dimensions of human personality: openness, conscientiousness, extraversion, agreeableness, and neuroticism.