When there are many small firms in a specific industry, what is likely to occur?
A) Competitive advantage
B) An oligopoly
C) Private enterprise
D) Perfect competition
E) Market force reliability
Answer: D
Explanation: D) Perfect competition occurs only when all firms in the industry are small and the number of firms in the industry is large, limiting the opportunity for any one firm to influence the price of the products.
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A) factory outlet B) retailer cooperative C) wholesale club D) warehouse club E) convenience cooperative
On April 1, there were 150 units in production in the framing department that were 50% complete. Another 760 units were placed into production during the month, and 650 units were completed and transferred to the shipping department, leaving 260 units 20% complete. All materials are added at the beginning of the process, and the total direct materials cost was $147,000 . What is the cost per
equivalent unit of production for materials? a. $138.68 b. $203.42 c. $193.42 d. $161.54
Which group of ethical theories focuses on who the leaders are as people?
A. deontological B. teleological C. altruism D. virtue-based
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a. last, manufacturing b. first, manufacturing c. last, service d. first, service