Which of the Following Statements Is False

question 84

Multiple Choice

Which of the following statements is false?

• A)The lesser the number of competitors,the higher the elasticity of demand.
• B)When competitors are limited,consumers' bargaining power is weaker.
• C)A firm may charge a higher price for its product in a country where competition is limited than in one where competition is intense.
• D)When there is high elasticity of demand and a firm raises its prices above those of its competitors,consumers will switch to the competitors' products.

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Definitions:

Wheel Axle

A simple machine comprising a wheel attached to a rod (axle), used to transfer force and motion effectively.

Parenthetical Definition

A type of definition given within parentheses that adds clarification or extra information to the main text.

Extended Definition

A detailed and thorough explanation of a concept, term, or phenomenon, expanding its meaning beyond the basic or dictionary definition.

Trip Report

A document summarizing the events, observations, and outcomes of a business trip, often shared to communicate insights gained during the travel.