If the Modeling Agent's Industry Were Characterized by Only a Few

question 59

Multiple Choice

If the modeling agent's industry were characterized by only a few firms that represented models and handled their bookings, the industry could be characterized as:

• A)an oligopoly with homogeneous products.
• B)an oligopoly with differentiated products.
• C)a dominant firm industry.
• D)monopolistic competition.

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Definitions:

Collective Agreement

A written contract negotiated through collective bargaining for labor between an employer and a union representing the employees.

Legal Bargaining Agent

A representative, often a union, designated to negotiate employment terms on behalf of a group of employees.

Bargaining Agent Status

The official recognition of a union as the representative of a group of employees for the purposes of collective bargaining.

Certification

The process of formally validating the qualifications, competence, or authority of an individual or organization in a specific area.