Which of the Following Is Considered a Durable Good

question 91

Multiple Choice

Which of the following is considered a durable good?

• A)silverware
• B)caviar
• C)marketing research
• D)chewing gum
• E)voting

---

Definitions:

Entry Barriers

Obstacles that make it difficult for new competitors to enter a market, which can include high startup costs, regulatory requirements, and strong brand loyalty among existing customers.

Dominant Firms

Companies that have a major share of sales in a particular market, giving them significant power over the market price.

Monopolistic Competition

A market structure where many companies sell products that are similar but not identical, allowing for competition based on quality, price, and marketing.

Large Number

In economics, it often refers to a market condition where there are many buyers and sellers, leading to competitive prices.