A Consolidated Industry Structure

question 11

Multiple Choice

A consolidated industry structure:

• A) consists of a large number of small companies.
• B) can be seen in agriculture, dry cleaning, health clubs, and real estate brokerage.
• C) consists of few companies that are in a position to determine industry price.
• D) provides no scope for oligopoly to exist.
• E) is characterized by low-entry barriers and commodity-type products.

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Definitions:

Statistic

A numerical value calculated from a sample, used to estimate characteristics of the population from which the sample is drawn.

Sample

A subset of individuals or objects taken from a larger population, used in statistical analysis to estimate characteristics of the whole population.

Population

In statistics, a population refers to the complete set of items or individuals that share one or more characteristics from which data can be gathered and analyzed.

Statistics Practitioner

An individual who applies their knowledge of statistics to analyze data and help in decision-making processes in various fields such as medicine, business, environmental science, and more.