Which of the Following Examples Illustrates an Oligopoly Market

question 123

Multiple Choice

Which of the following examples illustrates an oligopoly market?

• A)a farmers' market with many individuals selling sweet corn and tomatoes
• B)a city whose electrical service is provided by one electric co-operative
• C)a city with two firms who are licensed to sell school uniforms for the local schools
• D)a city with many independently-owned hair styling salons

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Definitions:

Cash Receipts

Money received by a business during a particular period, including revenues from sales and other transactions.

Cash Disbursements

Outflows of cash, typically categorized for financial reporting and analysis of a company’s cash outflow activities.

Cash Disbursements

Outflows of cash for expenses, including payments to suppliers, employees, and other creditors.

Manufacturing Overhead Budget

A detailed plan showing the production costs, other than direct materials and direct labor, that will be incurred over a specified time period.