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HKD1710
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Joined: 21 Jun 2014
Last visit: 26 Feb 2021
Posts: 958
Location: India
Concentration: General Management, Technology
Schools: IIMB IIMA ISB PGP Pro '19
GMAT 1: 540 Q45 V20
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WE:Information Technology (Computer Software)
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
5%
(low)
Question Stats:
89% (00:45) correct
11%
(01:10)
wrong
based on 508
sessions
History
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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
Posts: 9
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
Current Student
Joined: 14 Nov 2014
Last visit: 24 Jan 2022
Posts: 441
Location: India
Schools: Rotman '20 (S) Kelley '21 (S) (A)
GMAT 1: 700 Q50 V34
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HKD1710
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
The Inference should relate market to Industry.
The only option here we see is Option E.
Service Industry is a Market for ABC company and they have many competitors .
Sent from my iPhone using GMAT Club Forum
The only option here we see is Option E.
Service Industry is a Market for ABC company and they have many competitors .
Sent from my iPhone using GMAT Club Forum
GMAT Focus 1: 685 Q90 V82 DI80
Posts: 20
HKD1710
IMH its [A]
A) ABC's market is not monopolistic.- Correct --compeition is still there in the market means no monopoly of one company.
B) Monopoly is defined as one seller in a market.- there may be more than one seller-- monopoly does not mean only one company is there
C) The ABC Company has no domestic competitors.- Out of scope
D) The ABC Company is publicly owned.- Out of scope
E) The ABC Company is in a service industry.- nowhere it is mentioned that ABC is a service provider
Posts: 32
I go with A as a market is competitive when it is not monopolistic.
Posts: 1,382
A) ABC's market is not monopolistic. Correct, if the industry is competitive that means there is competition (eliminates absence or decline in competition). There the market is NOT monopolistic
B) Monopoly is defined as one seller in a market. No, there could be decline in competition too
C) The ABC Company has no domestic competitors. No mention in the argument
D) The ABC Company is publicly owned. No mention in the argument
E) The ABC Company is in a service industry. No mention in the argument
B) Monopoly is defined as one seller in a market. No, there could be decline in competition too
C) The ABC Company has no domestic competitors. No mention in the argument
D) The ABC Company is publicly owned. No mention in the argument
E) The ABC Company is in a service industry. No mention in the argument
HKD1710
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