Which Industry Is MOST Likely to Be Monopolistically Competitive

question 43

Multiple Choice

Which industry is MOST likely to be monopolistically competitive?

• A) agriculture
• B) computer chip manufacturing
• C) Internet service
• D) hair salon service

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Definitions:

Coercive Power

The ability of a person or group to enforce their will or obtain compliance from others through threats, sanctions, or other forms of pressure.

Countervailing Power

The concept in economics and political science where power is used to balance or counteract another power, preventing dominance or excess in markets or governance.

Dominant Person

An individual who exhibits superiority or control in a relationship or group setting, often influencing outcomes or decisions.

Primary Source

A primary source is an original document or firsthand account that has direct information about a topic, used in research and historical analysis.