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Which of the Following Statements Regarding the Trucking Industry Is

Question 58

Multiple Choice
Which of the following statements regarding the trucking industry is correct?

Which of the following statements regarding the trucking industry is correct?


A) The recession of 2007 -2009 caused many trucking firms to exit with many firms filing for bankruptcy.
B) The trucking industry most closely resembles an oligopoly.
C) Even though there is a high degree of competition, firms in the trucking industry are able to sustain positive economic profits as a result of a substantial degree of product differentiation.
D) The trucking industry was largely unaffected by the recession of 2007-2009 mainly because the industry is comprised by large firms with significant market power.

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