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14 Apr 2017, 08:58
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A
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
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Question Stats:
88% (00:45) correct
12%
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based on 423
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A monopoly is characterized by an absence of or decline in competition. The ABC Company realizes that its operations are in competitive industries.
Which of the following conclusions may be inferred from the above?
A) ABC's market is not monopolistic.
B) Monopoly is defined as one seller in a market.
C) The ABC Company has no domestic competitors.
D) The ABC Company is publicly owned.
E) The ABC Company is in a service industry.
Source: 800Score
Which of the following conclusions may be inferred from the above?
A) ABC's market is not monopolistic.
B) Monopoly is defined as one seller in a market.
C) The ABC Company has no domestic competitors.
D) The ABC Company is publicly owned.
E) The ABC Company is in a service industry.
Source: 800Score
14 Apr 2017, 11:18
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OA is (b)?
As option (a) says something which is too strong and which we have no proper evidence to conclude. It can or can not be monopolistic.
But (b) for sure is there as it is definitely one of the sellers in the market. And for that we do not need to know if the market is monopolistic or not.
Sent from my MI PAD using GMAT Club Forum mobile app
As option (a) says something which is too strong and which we have no proper evidence to conclude. It can or can not be monopolistic.
But (b) for sure is there as it is definitely one of the sellers in the market. And for that we do not need to know if the market is monopolistic or not.
Sent from my MI PAD using GMAT Club Forum mobile app
sobby
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14 Apr 2017, 22:51
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HKD1710
A monopoly is characterized by an absence of or decline in competition. The ABC Company realizes that its operations are in competitive industries.
Which of the following conclusions may be inferred from the above?
A) ABC's market is not monopolistic.
B) Monopoly is defined as one seller in a market.
C) The ABC Company has no domestic competitors.
D) The ABC Company is publicly owned.
E) The ABC Company is in a service industry.
Source: 800Score
Which of the following conclusions may be inferred from the above?
A) ABC's market is not monopolistic.
B) Monopoly is defined as one seller in a market.
C) The ABC Company has no domestic competitors.
D) The ABC Company is publicly owned.
E) The ABC Company is in a service industry.
Source: 800Score
I will go with A..
B i think is only talking one part ..in first sentence we have monopoly -- absence of or decline in competition --- may be more than one seller is possible but only one is ruling the market ...
Waiting for OA
