When companies that manufacture shipping containers want to buy iron ore, the purchase decision is solely based on price. This is because there are a large number of sellers in the iron ore industry, and iron ore is a highly undifferentiated commodity. Which of the following industry competitive structures does the iron ore industry best illustrate?
1) Monopoly
2) Oligopoly
3) Perfect competition
4) Monopolistic competition
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “When companies that manufacture shipping containers want to buy iron ore, the purchase decision is solely based on price. This is because ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Regardless of how the information is collected, a job analysis always includes two things: a job specification and a job recommendation a job specification and a job description a job summary and a job description a job specification and a job
Answers (1)
During the Renaissance, sauces become- A. heavier & richer & individual dishes become more complicated B. heavier & richer & individual dishes were streamlined C.
Answers (1)
EA15. LO 7.4Cold X, Inc. uses this information when preparing their flexible budget: direct materials of $2 per unit, direct labor of $3 per unit, and manufacturing overhead of $1 per unit. Fixed costs are $35,000.
Answers (1)
The Shoal Company's manufacturing costs for the third quarter of 2019 were as follows: (CPA adapted) Direct materials and direct labor $ 770,000 Other variable manufacturing costs 135,000 Depreciation of factory building and manufacturing equipment
Answers (1)
Which of the following executive roles is responsible for overall priority setting, project selection and prioritization, general guidance and encouragement? a. Steering Team b. Sponsor c. Project Management Office d. Chief Projects Officer
Answers (1)
New Questions in Business
During January, time tickets show that the factory labor of $7,000 was used as follows: Job 1 $2,300, Job 2 $1,780, Job 3 $1,570, and general factory use $1,350. Prepare a summary journal entry to record factory labor used.
Answers (1)
One widespread trend under way in business today that will affect the goals of the organization you work for is: Select one: a. social intelligence b. new media adaptations c. an increased focus on ethical and socially responsible behavior d.
Answers (1)
A high-profile consulting company chooses its new entry-level employees from a pool of recent college graduates using a five-step interview process.
Answers (1)
Suppose the nominal annual interest rate on a two year loan is 8 percent and lenders expect inflation to be 5 percent in each of the two years. the annual real rate of interest is
Answers (1)
The producer of a downloadable antivirus software program spends exactly $2,650,000 producing the first copy and incurring various costs required to make the software "user-friendly.
Answers (1)