Competitive Market Circumstances Are Such That There Is Almost No

question 83

Multiple Choice

competitive market circumstances are such that there is almost no price competition,no product differentiation,and the only advertising informs prospects that the product is available,then the competitive market in this industry must be __________.

• A) a pure monopoly
• B) pure competition
• C) an oligopoly
• D) monopolistic competition
• E) monopolistic oligopoly

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Definitions:

Planning

The process of setting goals, developing strategies, and outlining tasks and schedules to accomplish the goals.

Competition

The rivalry between businesses or individuals for dominance, resources, or achievements in a certain field or market.

Framework

A basic structure or set of guidelines designed to support or encase something, often used in the development of projects, policies, or software.

Decision Making

The process of making choices by identifying a decision, gathering information, and assessing alternative resolutions.