Which of the Following Is the Best Example of a Monopolistically

question 190

Multiple Choice

Which of the following is the best example of a monopolistically competitive industry?

• A) land-based long distance telephone service
• B) wheat farming
• C) the local electricity producer
• D) manufacturing of shirts
• E) cable television

---

Definitions:

Sales Volume

The quantity of products or services sold by a company within a specific period.

Standard Cost Performance Report

A financial analysis tool that compares actual costs incurred to standard costs, identifying variances for managing performance.

Variance Analysis

The process of investigating the difference between planned and actual numbers to understand deviations in financial performance.

Direct Materials Price Variance

The difference between the actual cost and the standard cost of materials used in production, indicating how effectively a company manages its material costs.