Charcos Oil is an oil marketing company.The company has only three competitors in the country where it operates and has formed an agreement with the competitors to fix the prices of their offerings.This move was essential because of the price sensitivity of the oil market. Which of the following is likely to occur if Charcos Oil reduces its prices?
A) The company's profitability will increase.
B) Competitors will also follow the price cut.
C) The market will become a monopoly.
D) Some of the competitors will stop business.
Correct Answer:
Verified
Q107: Which of the following is the reason
Q108: Which of the following best describes Ad
Q109: Which of the following types of products
Q110: Which of the following is a basic
Q111: The postal system is run by the
Q113: How many factors are there in an
Q114: A marketing environmental scan will often be
Q115: Which of the following types of competition
Q116: Which of the following statements is true
Q117: _ refers to the dissemination of unsolicited
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents