Which of the Following Statements Regarding the Trucking Industry Is

question 94

Multiple Choice

Which of the following statements regarding the trucking industry is correct?

• A)The recession of 2007 -2009 caused many trucking firms to exit with many firms filing for bankruptcy.
• B)The trucking industry most closely resembles an oligopoly.
• C)Even though there is a high degree of competition, firms in the trucking industry are able to sustain positive economic profits as a result of a substantial degree of product differentiation.
• D)The trucking industry was largely unaffected by the recession of 2007-2009 mainly because the industry is comprised by large firms with significant market power.

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Definitions:

Interneurons

Nerve cells within the central nervous system that connect sensory and motor neurons, playing a critical role in reflexes and neuronal circuits.

Axons

Long, threadlike parts of nerve cells which transmit electrical impulses away from the neuron's cell body.

Thousandths

A fractional value in mathematics, symbolized by 0.001, representing one part in a thousand.

Basic Types

Fundamental categories or groups into which entities, concepts, or items are classified based on shared characteristics or attributes.