When General Motors Introduced a Promotion Offering Customers the Employee

question 147

Multiple Choice

When General Motors introduced a promotion offering customers the employee discount prices for any vehicle, Chrysler and Ford followed the trend and offered the same program. This intense price competition among the three major automobile producers resulted in lower profits for all three companies. This outcome illustrates a problem for firms in what type of economic structure?

• A) monopolistic competition
• B) oligopolistic markets
• C) pure monopoly
• D) pure competition

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Definitions:

Expressed

Expressed refers to the outward manifestation or display of traits, emotions, or genetically determined characteristics, visible through behavior, physical attributes, or verbal communication.

Gene Carrier

An individual possessing one copy of a mutated gene that can lead to a genetic disorder if passed to offspring, typically not affected themselves.

Human Organism

A living individual belonging to the species Homo sapiens, characterized by advanced cognitive abilities and complex social behaviors.

Conception

The process of fertilization where a sperm and egg combine to form a zygote, initiating pregnancy.