A Market Situation Where a Small Number of Sellers Compose

question 140

Multiple Choice

A market situation where a small number of sellers compose the entire industry is called:

• A) monopolistic competition.
• B) monopoly.
• C) oligopoly.
• D) perfect competition.

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Definitions:

Setting Goals

The act of defining specific, measurable, achievable, relevant, and time-bound objectives that guide actions and efforts.

Performance-contingent Basis

A system where rewards or consequences are applied based on the level of performance achieved, incentivizing certain behaviors or outcomes.

Under-reward Inequity

A perception among employees that their rewards do not match the effort and contributions they have made, leading to dissatisfaction.

Outcomes-to-Inputs Ratio

A performance measure used to evaluate the efficiency of an investment or to compare the efficiency of a number of different investments.