Which of the Following Would Probably Be an Oligopoly in a U.S

question 7

Multiple Choice

Which of the following would probably be an oligopoly in a U.S. market?

• A) A gift shop at an art museum.
• B) U.S. Steel (USX).
• C) A "7 to 11" convenience food store.
• D) A Ford car dealership in a small town.
• E) All of these would probably be oligopolies in a U.S. market.

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Definitions:

Limited Income

Describes a situation where an individual or household has a finite or restricted amount of monetary resources available for spending and saving.

Marginal Utilities

The gain in utility or enjoyment a consumer realizes from the consumption of one extra unit of a good or service.

Extra Total Utility

The additional satisfaction or benefit that a consumer derives from consuming one more unit of a good or service.

Current Consumption

The amount of goods, services, energy, or natural resources being used by consumers or industries at the present time.