If NASCAR Makes a Business Decision in Favor of One

question 13

Multiple Choice

If NASCAR makes a business decision in favor of one track rather than another, based upon the fact that the track it chooses is owned by the same family who owns NASCAR, rather than the overall profitability of the chosen track, economists will insist that

• A)this is simply a consequence of the family's monopoly power.
• B)competition will quickly lead to NASCAR's demise.
• C)this is what happens when there is significant economic competition in racing.
• D)monopoly does not really govern auto racing.

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Definitions:

Eukarya

One of the three domains of life, consisting of organisms with cells that have a nucleus enclosed within membranes.

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The variety and variability of life on Earth, including diversity within species, between species, and of ecosystems.

Species Variation

Genetic differences both within and between populations of species, contributing to the diversity of organism traits.

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Communities of living organisms in conjunction with the nonliving components of their environment, interacting as a system.