Thanh Owns a Shoe Store

question 139

Multiple Choice

Thanh owns a shoe store.In this market,there are many firms competing for the same customers,but the products offered differ by quality and price.Out of the four levels of competition,which one does this market represent?

• A) Monopolistic competition
• B) Pure competition
• C) Oligopolistic competition
• D) Monopoly
• E) Dominant competition

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Definitions:

Action-Motivating

Characteristics or incentives that encourage a person to take action or engage in a particular behavior.

Potential Ramifications

Possible consequences or outcomes that could arise as a result of a specific action or decision.

President

The elected head of a republican state or organization who typically represents the leadership or authority.

Weak Relationship

Describes a connection or correlation between variables that is minimal or not statistically significant.