Tell Which Brand or Which Size Is the Better Buy

question 133

Multiple Choice

Tell which brand or which size is the better buy.
-Brand X: 4 oz for $0.44 Brand Y: 6 oz for $0.72

• A)Not enough information
• B)Brand X
• C)Equal value
• D)Brand Y

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Definitions:

Competitor

An individual or company in the same industry or market that sells or provides similar products or services, thereby engaging in competition.

Concentration Ratio

The percentage share of industry sales by the four leading firms.

Industry's Concentration

A measure of the extent to which market share is dominated by a few large companies within a particular industry.

Price Discrimination

Occurs when a seller charges two or more prices for the same good or service.