Industries exhibit strong differences, such as the chewing tobacco industry and the Chicago grain market:
A)Both are trading assets or items which are ethically questionable
B)Each illustrates, respectively, a situation of quasi-monopoly and a situation of perfect competition
C)Each illustrates, respectively, a situation of perfect competition and a situation of quasi-monopoly
D)Each illustrates, respectively, a situation of low risk and a situation of high risk in terms of business activity fluctuations

Question

Quizplus · Accepted Answer

The chewing tobacco industry is often dominated by a few large firms, indicating a quasi-monopoly, while the Chicago grain market is an example of perfect competition with many buyers and sellers.

Industries Exhibit Strong Differences, Such as the Chewing Tobacco Industry