Which Statement Is True

question 186

Multiple Choice

Which statement is true?

• A)Most oligopolies have only a few firms.
• B)The U.S.auto industry has a concentration ratio of 50 percent.
• C)Administered prices are most likely to occur under monopoly.
• D)In the U.S.today collusion is illegal but nevertheless still exists.

---

Definitions:

Ordered Rankings

A method of arranging data points or items based on their value or importance in an ascending or descending sequence.

Interval Data

A type of numerical data that has meaningful intervals between measurements but no true zero point, allowing for comparison and subtraction.

Nominal Data

Data categorized into discrete groups or categories that cannot be ordered or ranked.

Interval Variable

A type of quantitative variable that exhibits ordered relationships with meaningful, equal distances between measurements but no true zero point.