Using Figure 13-4 Above,how Much Price Competition Is Likely for Small

question 197

Multiple Choice

Using Figure 13-4 above,how much price competition is likely for small coffee shops?

• A)There is almost none;the market sets the price.
• B)There are many sellers competing within a range of prices.
• C)There is generally a price leader that sets the price.
• D)Starbucks sets the price and all other coffee shops follow its lead.
• E)Price is set by the seller but regulated by the government.

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Definitions:

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