A Major Factor in Industry Analysis Is the Level of Competition

question 7

Multiple Choice

A major factor in industry analysis is the level of competition in an industry.Which of these is not correct?

• A)As competition increases,prices increase
• B)In perfect competition,there are a high number of substitute products and high price elasticity of demand
• C)In monopoly,there are no substitute products or services
• D)In a monopoly,prices are higher than any situation of competition

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