An industry is
A) a group of firms that produce similar products.
B) a collection of production facilities.
C) a group of consumers who wish to purchase similar products.
D) supply and demand for a product.
E) a union of workers from different firms.
Correct Answer:
Verified
Q1: Which of the following is a condition
Q2: Firms may enter or exit a competitive
Q4: In the long run, if price is
Q5: One reason old industries die off is
Q6: List three reasons for the rise and
Q7: Consumers are part of an industry.
Q8: The entry and exit of firms occurs
Q9: A group of firms, each of which
Q10: Which of the following statements is false?
A)The
Q11: An industry tends to expand as market
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