Which of the Following Markets Is Not Likely Characterized by a Monopolistically

question 398

Multiple Choice

Which of the following markets is not likely characterized by a monopolistically competitive market?

• A)mobile telephone service
• B)auto mechanic service
• C)barbershops
• D)jewelry

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Definitions:

General Journal

A bookkeeping ledger that records every financial transaction of a business in chronological order.

Revenues Journal

A record of sales and income transactions, typically used in accounting to track and manage revenue generation.

Cash Receipts Journal

An accounting journal used to record all cash inflows or money received by the business.

All-purpose Journal

A general ledger used in accounting to record financial transactions that do not fit specifically into other specialized journals.