Which of the following statements is true?

Question

Quizplus · Accepted Answer

The market structure of an industry can change over time due to various factors such as technological advancements, changes in consumer preferences, and entry or exit of firms. It is not a static concept and can evolve over time. Option B is incorrect as most horizontal mergers are allowed by the government if they do not harm competition. Option C and D are also incorrect as most industries in the U.S. fall under the categories of monopolistic competition or oligopoly, with only a few being perfectly competitive or monopolistic.

Which of the Following Statements Is True