Which of the Following Statements Is True

question 35

Multiple Choice

Which of the following statements is true?

• A) Research shows that many customers are not satisfied and feel that some companies do not deliver on their promises.
• B) Research shows that most customers are somewhat satisfied and feel that companies usually deliver on their promises.
• C) Research shows that most customers are satisfied and feel that companies deliver on their promises.

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Definitions:

Monopolistic Competition

A market structure combining elements of monopoly and competitive markets, where many sellers offer slightly differentiated products.

Differentiated Products

Goods or services that are distinguished from others in the market by unique features, quality, or brand.

Pure Competition

Occurs when different companies sell commodity products that consumers perceive as substitutable; price usually is set according to the laws of supply and demand.

Oligopolistic Competition

Occurs when only a few firms dominate a market.