Years ago, the travel industry was controlled by a few large travel companies that booked holidays, air tickets, bus tickets, and hotels for their customers. However, with the emergence of the internet, smaller travel agencies started mushrooming in the industry and customers started making their own reservations. Which of the following can be inferred from this information?
A. The travel industry changed from a consolidated structure to a fragmented one.
B. The bargaining power of buyers in the travel industry has decreased.
C. The pricing power of the incumbent firms in the travel industry has increased.
D. The structure of the travel industry changed from monopolistic competition to an oligopolistic one.
Answer: A
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Bond issue costs have the effect of
a. decreasing a bond discount. b. increasing a bond premium. c. decreasing the effective interest rate. d. decreasing a bond premium.
The ________ inventory system updates accounting records for each purchase and each sale of inventory.
Fill in the blank(s) with the appropriate word(s).