A Magazine with a Circulation of 2

question 27

Multiple Choice

A magazine with a circulation of 2.5 million and 3 readers per copy would have a total audience or readership of _____ million.

• A)2.5
• B)4.5
• C)5.5
• D)7.5
• E)8.3

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Definitions:

Prices

The sum of money needed to buy a product or service.

Competitors

Other businesses or individuals that offer similar goods or services within the same market, competing for the same customers.

Oligopolist

A market participant in an oligopoly, where a small number of firms dominate the industry, influencing prices and market conditions.

Kinked Demand Curve

A theory in economics that suggests that prices in a monopolistic competition scenario may remain stable because competitors will match price decreases but not price increases.