When Honda experienced declining sales as a result of quality and safety issues, it began offering buyer incentives to new-car buyers. Nearly immediately, Ford and General Motors began similar promotions. These businesses
A. represent an oligopoly in which there are few sellers, and each seller has considerable control over price.
B. represent a monopoly in which only one firm supplies a product or products.
C. are engaging in monopolistic competition in which there are many buyers as well as a relatively large number of sellers that differentiate their products from those of competitors.
D. are engaging in pure competition, in which no single seller is powerful enough to affect prices.
E. are engaging in monopolistic competition, in which the products are very similar.
Answer: A
You might also like to view...
Because federal agency rules have a binding effect, and their violators may be punished, certain established procedures must be followed in creating them.
Answer the following statement true (T) or false (F)
A ________ pricing strategy for an offering begins with an assessment of customer needs and perceptions. Then a target price is set based on customer perceptions of worth
A) cost-based B) target costing C) value-based D) value-added E) competition-based
All of the following occur with a double-entry accounting system except:
A) The accounting equation remains in balance. B) The sum of all debits is always equal to the sum of all credits in each journal entry. C) Each business transaction will have only two entries. D) Every transaction affects at least two accounts.
Managing individuals in organizations is a task made difficult by the fact that everyone is ____________?
a. Similar b. An employee c. Different d. Difficult