A Firm That Has Taken Advantage of Economies of Scale

question 220

Multiple Choice

A firm that has taken advantage of economies of scale and expanded to become the only producer in the market is

• A) a cartel.
• B) a natural monopoly.
• C) a monopolistic competitor.
• D) an oligopolist.

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Definitions:

Marketing Metrics

Quantitative measures used to monitor and evaluate the performance of marketing activities and campaigns.

Likert

A psychometric scale commonly used in questionnaires to measure respondents' attitudes or responses to questions.

Semantic Differential

A scale used in surveys that measures people's reactions to concept pairs on a continuum, such as good/bad or happy/sad.

Attitudinal

Relates to attitudes, or predisposed mental views and feelings towards objects, people, or events.