Recently the Market Has Been Flooded with a Large Number

question 56

Multiple Choice

Recently the market has been flooded with a large number of rice suppliers.Since rice is a standardized product, the price for rice will be set according to the laws of supply and demand.This is an example of:

• A)a monopoly.
• B)oligopolistic competition.
• C)monopolistic competition.
• D)pure competition.
• E)less price competition.

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Definitions:

Unit Contribution Margin

The gap between the price per unit at which an item is sold and its per-unit variable expense.

Unit Variable Cost

The variable cost associated with producing one additional unit of a product.

Monthly Sales

Monthly sales are the total sales revenue a company generates within a specific month.

Sales Commissions

Remuneration given to sales staff based on the total amount of sales they generate, aimed at motivating higher sales output.