Dominant Firms That Formed in Several Industries in the U

question 18

Multiple Choice

Dominant firms that formed in several industries in the U.S. in the 1870s and 1880s, which assigned control to a single decision group, were referred to as

• A) trusts.
• B) mergers.
• C) tying contracts.
• D) single-seller monopoly.

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Definitions:

Tooling Department

A specialized section within a manufacturing facility responsible for designing, maintaining, and storing tools, dies, and other equipment used in production.

Production Areas

Specific sections within a manufacturing or production facility where goods are made or assembled.

Single Plantwide Rate

An overhead absorption rate that applies the same overhead costs to all products or services regardless of the actual overhead each consumes.

Multiple Production Department Rates

The use of different overhead application rates for various departments within a manufacturing facility to more accurately assign costs.