In a Particular Town, Comvision and Veriview Are the Only

question 437

Multiple Choice

In a particular town, Comvision and Veriview are the only two providers of cable TV service. Comvision and Veriview constitute a

• A)duopoly, whether they collude or not.
• B)cartel, whether they collude or not.
• C)Nash industry, whether they collude or not.
• D)monopolistically competitive market if they charge the same price.

---

Definitions:

Temporary Accounts

Accounts used to track revenues, expenses, and withdrawals or dividends during an accounting period, which are closed and reset at the end of the period.

Debits And Credits

Fundamental accounting principles that are used to record every financial transaction, where debits must equal credits in every transaction.

Account Type

A classification system used within accounting to differentiate between the various financial transactions, assets, liabilities, and owners' equity carried out or held by a business.

Increases

Refers to the growth or rise in numbers, values, quantities, or activities.