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Kwilliams85 Kwilliams85
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4 years ago
When Toyota experienced declining sales, it began offering price 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 sellers often match the prices of competitors.
  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.



Question 2 - Management at Borabe Enterprises did not want the workforce to unionize. It did not threaten employees with losing their jobs if they voted to be represented by a union, nor did it want to spy on union activities. Rather, it chose to pay employees a loyalty bonus to vote against the union. One employee thought her rights had been violated by the company's actions, so she filed a complaint with the:
 A) FTC, claiming a violation of the Federal Trade Commission Act.
  B) EEOC, claiming a violation of the Civil Rights Act, Title VII.
  C) NLRB, claiming a violation of the National Labor Relations Act.
  D) NLRB, claiming a violation of the Labor-Management Relations Act.
  E) EEOC, claiming a violation of the Fair Labor Standards Act.



Question 3 - Exxon Mobil and Shell are two of the relatively few sellers in the oil-refining industry. Due to the tremendous capital investment required to enter this industry, these companies are insulated significantly from the threat of new competitive entrants and thus have considerable control over price. This market situation is referred to as a(n):
 A) cartel.
  B) pure market.
  C) natural monopoly.
  D) oligopoly.
  E) trust.
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megantttmeganttt
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Posts: 361
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4 years ago
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[ 1 ]  A

[ 2 ]  C

[ 3 ]  D
1

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