A public franchise is
A) an exclusive right granted to a firm to supply a good or service.
B) a government issued license required to practice a profession.
C) an exclusive right granted to an inventor of a product.
D) a unique source of raw materials.
A
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Local or state offices of the Department of Justice usually set prices for natural monopolies in their jurisdictions
Indicate whether the statement is true or false
Another way to state the efficient markets hypothesis is: in an efficient market
A) unexploited profit opportunities will be quickly eliminated. B) unexploited profit opportunities will never exist. C) all prices can be accurately predicted. D) every financial market participant must be well informed about securities.
Seat belts are not cost-effective highway safety devices because so many of them must be installed and go unused that there cost is high
Indicate whether the statement is true or false
Using Richard Tedlow's "three phases of marketing," the premium bottled water industry is probably in
A) the first phase, where a very large number of firms are each producing a relatively small volume of premium bottled water. B) the second phase, where one or a few brands have attained high market shares by selling a large number of bottles of premium water at lower prices. C) the third phase, where the dominant firms have rapidly introduced a large number of premium bottled water varieties. D) The market for premium bottled water is too young to categorize using the "three phases of marketing."