A Particular Industry Has Only a Few Competitors, Who Have

question 159

Multiple Choice

A particular industry has only a few competitors, who have at least some control over price. Entry into the industry is difficult. This industry is an example of ______.

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

---

Definitions:

Dividends Declared

Dividends declared are profits a company announces it will distribute to its shareholders, indicating when and how much will be paid out.

Liabilities

Financial obligations or debts that a company owes to others, which must be settled over time through the transfer of economic benefits.

Shareholders' Equity

The residual interest in the assets of a corporation after deducting liabilities, representing ownership interest.

Expenses

Costs incurred in the process of generating revenue, typically including items like rent, salaries, and utilities.