The Delivery of First-Class Mail by the U

question 252

Multiple Choice

The delivery of first-class mail by the U.S.Postal Service is an example of

• A)a monopoly.
• B)perfect competition because consumers have access to other methods of written communication, for example, email and text messaging.
• C)monopolistic competition because mail delivery is a differentiated product provided by many firms.
• D)an oligopoly because a few other firms provide delivery of letters and packages.

---

Definitions:

Concepts

Mental representations of categories of objects, events, or ideas based on shared properties.

Categorization

The process of recognizing, differentiating, and understanding objects, concepts, or experiences by grouping them into categories based on shared characteristics.

Superordinate

A term used to describe a higher level or more general category under which lower level categories or entities are grouped.

Subordinate

A person or thing that is of lesser importance, rank, or order.