Use Your Basic Knowledge and Your Understanding of Market Structures

question 38

Multiple Choice

Use your basic knowledge and your understanding of market structures to answer this question. Which of the following companies most closely approximates a monopolistic competitor?

• A)Subway Sandwiches
• B)Pittsburgh Plate Glass
• C)Ford Motor Company
• D)Microsoft

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Definitions:

Productivity

The effectiveness of productive effort, often measured in terms of the rate of output per unit of input.

Daily Work

Routine tasks or activities that a person engages in as part of their occupation or job responsibilities.

Productivity

The efficiency with which an individual, organization, or economy converts inputs into useful outputs.

Online Sales

The process of purchasing goods or services over the internet.