Q&A Hero

Q: The Madrid Protocol is a. a method of registering a trademark with language adaptations for different countries. b. the act of collectively seeking a trademark for an entire industry. c. a form of national branding, i.e., "Chilean Sea Bass." d. a treaty that facilitates the protection of U.S. trademark rights throughout the world. e. an agreement to stop piracy of noncopyrighted products abroad.

Q: From the start of the war on terrorism, billions have been spent on the war effort in Iraq. According to an environmental scan of the United States, this military expenditure is an example of a change in __________ forces. a. economic b. competitive c. technological d. social e. regulatory

Q: The Trademark Law Revision Act (1988) a. prevents someone from using a trademark on a noncompeting product. b. provides for registration of a company's trademarks. c. protects only the consumer. d. allows a company to secure rights to a name before its actual use. e. facilitates the protection of U.S. trademark rights throughout the world.

Q: Which of the following trends identified in an environmental scan is a regulatory trend? a. Digital TVs, tablet devices, and smartphones will become increasingly connected. b. Partnerships, collaborations, and co-creation of value will become important dimensions of business rivalry. c. The U.S., Japan, China, and the E.U. countries will increase investments in sustainable living structures. d. Health consciousness will lead to more public and private smoke-free areas. e. Global media consumption (online and social) will continue to grow dramatically.

Q: The Trademark Law Revision Act (1988) addresses the right of a company to a. sell to the highest bidder a trademark that has expired or been retired. b. incorporate an unlimited number of new products under the same trademark. c. secure rights to a name before the product is even in use. d. alter its trademark in terms of color, design, or slogan without having to reapply for a new trademark. e. protects U.S. trademark rights throughout the world.

Q: Which of the following trends identified in an environmental scan is a competitive trend? a. Online data collection leading to behavioral targeting will grow dramatically. b. Microbusiness impact will increase through peer-to-peer websites. c. International activity from Asia to Africa will grow as countries from these areas become sources of economic growth. d. There will be increasing regulatory guidance regarding green and environmental marketing claims. e. Consumer purchase decisions are becoming more values-based and focused on improving the world.

Q: In 1988, the Trademark Law Revision Act resulted in a major change to the Lanham Act. The change allows a. a company to secure rights to a name before its actual use by declaring an intent to use the name. b. products to use generic terms as trademarks. c. inventors to apply for use of Internet domain names. d. a company to declare trademark ownership in foreign markets. e. products to use more than one trademark.

Q: Which of the following trends identified in an environmental scan is a technological trend? a. New smartphone apps, such as mobile location promotion, quick response (QR) codes, and mobile payments will become increasingly more available. b. Customer-generated content is growing as a competitive advantage. c. The slow recovery of the current recession is leading to sustained higher levels of unemployment. d. Online privacy protection advocacy and regulation will continue to grow. e. Social networks are becoming the dominant form of communication for consumers.

Q: In 2008, Apple filed for and received approval from the U.S. Patent and Trademark Office to trademark the "App Store" name to describe a service that allows its iPhone and iPad customers to purchase and download applications, video games, and other software. Over the past few years, Apple has invested millions in advertising and publicity and customers have purchased millions of dollars of software from its "App Store." However, Amazon.com and Microsoft both claim that Apple does not have exclusive rights to the name because other firms use it to describe their online storefronts where consumers can obtain software for smartphones and tablet devices. Apple has filed lawsuits against these firms, particularly Amazon, for violating its trademark. Why should Apple rigorously protect its "App Store" trademark? a. Apple risks losing its status as a generic smartphone and tablet device manufacturer. b. In order to maintain the use of its widely recognizable trademark, Apple must prevent the name from becoming generic. c. The Robinson-Patman Act conferred ownership of the "App Store" name and other trademarked property to Apple and/or Microsoft. d. The government will file charges for trademark infringement only if Apple, the owner of the trademark, has documented proof of wrongdoing by Amazon. e. By protecting its trademark, Apple is protecting the entire smartphone and tablet device industries from indirect competition.

Q: Which of the following trends identified in an environmental scan is an economic trend? a. The U.S., Japan, China, and the E.U. countries will increase investments in sustainable living infrastructure. b. Digital TVs, tablet devices, and smartphones will become increasingly connected. c. Partnerships, collaborations, and co-creation of value will become important dimensions of business rivalry. d. Health consciousness will lead to more public and private smoke-free areas. e. Global media consumption (online and social) will continue to grow dramatically.

Q: Coca-Cola hired "brand police" to make sure that the Coca-Cola brand name and logo are not used without written permission. Why is Coca-Cola so rigorous in protecting its trademark? a. Coca-Cola risks losing its generic status. b. In order to maintain the use of its widely recognizable trademark, Coca-Cola must prevent the name from becoming generic. c. The Robinson-Patman Act conferred ownership of the Coke name and other trademarked property to the Coca-Cola Company. d. The government will file charges for trademark infringement only if the owner of the trademark has documented proof of wrongdoing. e. By protecting its trademark, Coca-Cola is protecting the entire soft drink industry from indirect competition.

Q: Which of the following trends identified in an environmental scan is a social trend? a. Online data collection leading to behavioral targeting will grow dramatically. b. Microbusiness impact will increase through peer-to-peer websites. c. International activity from Asia to Africa will grow as countries from these areas become sources of economic growth. d. There will be increasing regulatory guidance regarding green and environmental marketing claims. e. Consumer purchase decisions are becoming more values-based and focused on improving the world.

Q: Which of the products in the Generics photo above is least likely, at this point in time, to be concerned with having its name become generic? a. Kleenex because most people just ask for a tissue. b. Jell-O because there are not other gelatin desserts. c. All Sport Disk because most people call it a Frisbee. d. Q-Tips because most people call it a cotton swab. e. Vaseline because most people refer to it as petroleum jelly.

Q: Predicting the future in terms of environmental scanning requires assumptions about a. the total potential investment required to achieve the company's goals. b. the total potential revenues that could be generated as a result of additional investment now. c. the number of years the trends will continue and the factors that cause these trends to change. d. the skills the marketing department has to be able uncover trends in the marketplace. e. the effectiveness of the tools employed, such as scenario casting.

Q: Generics Photo In the Generics photo above, the manufacturers of these products are concerned that their brand names will become generic. The legislation most likely to address this issue is the __________. a. Sherman Antitrust Act b. Patent Act c. Clayton Act d. Lanham Act e. Miller-Tydings Act

Q: Which of the following statements regarding environmental scanning is the most accurate? a. Environmental scanning changes the marketing environment. b. Environmental scanning identifies and interprets potential trends. c. Environmental scanning should be done at least every five years. d. Environmental scanning focuses primarily on ecological factors. e. There is too much information generated from environmental scanning to make it viable for small firms.

Q: Registration under the Lanham Act provides important advantages to a trademark owner that has used the trademark in interstate or foreign commerce, but it does not a. allow a trademark to be used for more than 83 years. b. provide reciprocity with foreign firms allowing their trademarks to be honored here. c. prevent other firms from obtaining similar trademarks for significant improvements of the original product. d. guarantee protection under the Trademark Law Revision Act. e. confer ownership.

Q: The purpose of environmental scanning is to a. only identify trends in the marketplace. b. only interpret trends in the marketplace. c. only forecast trends in the marketplace. d. identify, interpret, and forecast trends in the marketplace. e. only identify and interpret trends in the marketplace.

Q: The Lanham Act cannot protect the rights to a trademark if a. the company is accused of violating the Sherman Antitrust Act. b. the product patent is less than 17 years old. c. the word, name, or symbol has become generic. d. the statute of limitations has run out. e. the government refuses to enforce violations.

Q: Over a period of several decades, coffee consumption declined from 75 percent of the adult population in 1962 to 49 percent in 2004. Then, it increased to 56 percent in 2010. A firm with a good marketing orientation would have a. found a less volatile product to sell. b. invested more money into market research. c. changed to a new promotional firm. d. explored the reasons behind these changes. e. demoted coffee from being a "star" to a "dog."

Q: The __________ provides for registration of a company's trademark, such as the Nike swoosh. a. Lanham Act b. Patent Act c. Clayton Act d. Sherman Antitrust Act e. Miller-Tydings Act

Q: All of the following reasons explain the change in adult coffee consumption between 1962 and 2010 EXCEPT: a. many coffee marketers increased the distribution of their coffees in supermarkets and/or other retail outlets. b. many coffee marketers added new coffee flavors and seasonal blends. c. there was an increase in coffee consumption among those who are 18 to 24 years old. d. there was a shift in demand from coffee to other competing beverages such as tea, soft drinks, juices, and bottled water. e. there was an increase in away-from-home consumption due to an increase in consumers' discretionary incomes.

Q: The Lanham Act (1946) a. prevents someone from using a trademark on a noncompeting product. b. protects the consumer from product defects. c. provides for registration of a company's trademarks. d. allows a company to secure rights to a name before its actual use. e. facilitates the protection of U.S. trademark rights throughout the world.

Q: The changes in coffee consumption are likely due to all of the following EXCEPT: a. Coffee shops like Starbucks are using mobile payment systems to make purchases more convenient. b. Coffee marketers like Caribou Coffee are offering new flavors and seasonal blends. c. The decreased use of Fair Trade certified coffee due to the added expenses incurred for certification and farmer subsidies given the current economic downturn. d. Coffee shops are using new machines to automate the brewing and dispensing of coffee faster to reduce order processing time. e. Supermarkets such as Safeway and booksellers such as Borders have added Starbucks and Seattle's Best (owned by Starbucks) boutiques to their gourmet brands of coffee within their stores.

Q: The two major purposes for any trademark statute are to a. (1) protect the investment of energy, time, and money that the owner of a trademark has invested in the development of the product and (2) guarantee the owner of the trademark complete rights to his work for the duration of the owner's lifetime. b. (1) protect the inventor's individual rights and (2) provide the company with the maximum profits possible. c. protect the rights of the inventor both here and abroad. d. (1) protect the public so they will get the product it wants and asks for and (2) protect the government so it will be able to collect its fair share of taxes from the revenues generated. e. (1) protect the public so they will get the product it wants and asks for and (2) protect the investment of energy, time, and money that the owner of a trademark has invested in the development of the product.

Q: Changes in coffee consumption affect all of the following EXCEPT: a. supermarkets. b. government regulators. c. coffee shops. d. coffee growers. e. coffee processors.

Q: Each year, the U.S. Army shoots an estimated 200 million rounds of lead bullets at target practice areas across the United States. Pentagon officials, in response to environmentalists' concerns over lead poisoning in the soil, have invested over $12 million to develop an environmentally safe tungsten bullet. This is an example of one of the outcomes of __________. a. marketing ethics b. consumerism c. cause marketing d. self-regulation e. Naderism

Q: Coffee consumption among consumers 18 to 24 years old has __________ from 2003 to today. a. increased b. decreased c. remained the same d. fluctuated, first declining and then increasing e. fluctuated, first increasing and then declining

Q: In the 1960s, President Kennedy developed what is known as the Consumer Bill of Rights. This legislation was developed to protect consumers from unscrupulous marketers and guaranteed consumers four fundamental rights, including the right to be informed, the right to choose, the right to be protected, and the right to be heard. More recently, the Children's Online Privacy Protection Act (1998) has been passed. Many laws such as these are the results of __________. a. marketing ethics b. self-regulation c. cause marketing d. consumerism e. Naderism

Q: Between 1962 and 2010, adult coffee consumption has a. steadily increased each year. b. steadily decreased each year. c. remained steady. d. increased significantly due to adults consuming prepared coffee away from home at outlets such as Starbucks. e. fluctuated, first declining and then increasing.

Q: Consumerism refers to a. a movement of conspicuous consumption that began when the World War II ended. b. conducting business in a way that protects the natural environment while making economic progress. c. a collaborative effort between buyers and sellers to create an exchange where each benefit. d. the recognition of the need for organizations to improve the state of people, the planet, and profit simultaneously if they are to achieve sustainable, long-term growth. e. the grassroots movement started in the 1960s to increase the influence, power, and rights of consumers in dealing with institutions.

Q: Environmental trends come from all of the following forces EXCEPT: a. competitive b. economic c. regulatory d. geographical e. social

Q: The grassroots movement started in the 1960s to increase the influence, power, and rights of consumers in dealing with institutions is referred to as __________. a. Naderism b. consumerism c. green marketing d. anti-corporate activism e. consumptionism

Q: The process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends is referred to as a. significant trend analysis. b. organizational scanning. c. environmental scanning. d. a SWOT analysis. e. marketing intelligence.

Q: The __________ established the Consumer Product Safety Commission to monitor product safety and establish uniform product safety standards. a. Nutritional Labeling and Education Act b. Consumer Protection Act c. Fair Packaging and Labeling Act d. Child Protection Act e. Consumer Product Safety Act

Q: Environmental scanning refers to a. assessing any possible negative impact a firm's activities might have on the local ecology. b. continually acquiring information on events occurring outside the organization to identify and interpret potential trends. c. setting up a regular schedule to assess the performance of different divisions within a firm. d. initiating an internal talent search to identify employees who can think "outside the box" to generate solutions to marketing problems caused by changes in the marketing environment. e. requiring all employees to spend time outside the office to avoid the "ivory tower" syndrome.

Q: A mother bought what she thought was a large box of unsweetened cereal. It was the same 22 oz. size as other brands whose boxes clearly marked. However, when she opened the box it was barely full. The Fair Packaging and Labeling Act would not protect her unless a. the package printed the disclaimer that the product might settle during shipping. b. the package states that the contents should be purchased by weight rather than by volume. c. the package clearly states 22 oz. on the front but the actual weight of the contents was only 16 oz. d. the package lists all the ingredients including the total amount of sugar. e. an identical package by the same manufacturer had the exact same amount inside.

Q: All of the following statements about these social networks are true EXCEPT: a. Facebook contains user-generated content that each member supplies to the Web service. b. Digg allows people to share articles. c. Ning allows users to create custom social websites. d. Google is increasingly becoming a fierce competitor to Facebook as a depository of society's information. e. Today, MySpace is the largest social networking website.

Q: The Infant Formula Act (1980), the Nutritional Labeling and Education Act (1990), and the Fair Packaging and Labeling Act (1966) are all examples of a. pricing-related legislation. b. consumer-oriented federal laws. c. fair trade legislation. d. distribution-related legislation. e. requirement contracts.

Q: All of the following statements about the growth of social networks like Facebook are true EXCEPT: a. the Federal Trade Commission (FTC) has had a laissez faire policy of not interfering with the development and marketing of social media websites. b. Internet access and smartphones became more affordable to consumers around the world. c. several companies provided many social networking alternatives. d. advances in data storage, server speed, and software programming made social networks fast and convenient. e. people became increasingly interested in the social aspects of the Internet.

Q: The Infant Formula Act, the Nutritional Labeling and Education Act, and the Fair Packaging and Labeling Act are all examples of a. consumer-oriented legislation. b. pricing-related legislation. c. distribution-related legislation. d. requirement contracts. e. fair trade legislation.

Q: As of late 2011, Facebook has approximately how many members around the globe? a. 2 million b. 7 million c. 250 million d. 770 million e. 2 billion

Q: In 1998, President Clinton signed the Digital Millennium Copyright Act, which a. limits access of children to online material considered to be inappropriate or harmful. b. improves protection of copyrighted digital products. c. allows the government to collect taxes if printed materials are sold online. d. prevents the pirating of digital products that do not display the copyright symbol. e. allows anyone with access to a computer to publish original materials online and seek remuneration (pay).

Q: The purpose of __________ is to give the author of a literary, dramatic, musical, or artistic work the exclusive right to print, perform, or otherwise copy that work. a. copyright law b. patent law c. criminal law d. commercial law e. antitrust law

Q: The purpose of copyright law is to a. provide incentives for increased competition. b. give inventors the right to exclude others from making, using, or selling products that infringe the patented invention. c. level the playing field between inventors who work for large corporations and those who work on their own. d. guarantee the quality and safety of any product produced or distributed in the United States. e. give an author of a literary, dramatic, musical, or artistic work the exclusive right to print, perform, or otherwise copy that work.

Q: A company can protect its competitive position under __________, which gives inventors the right to exclude others from making, using, or selling products that infringe the patented invention. a. copyright law b. patent law c. criminal law d. commercial law e. antitrust law

Q: The purpose of patent law is to a. provide incentives for increased competition. b. give an author of a literary, dramatic, musical, or artistic work the exclusive right to print, perform, or otherwise copy that work. c. give inventors the right to exclude others from making, using, or selling products that infringe the patented invention. d. guarantee the quality and safety of any product produced or distributed in the United States. e. level the playing field between inventors who work for large corporations and those who work on their own.

Q: Which of the following laws has the purpose of protecting competition? a. Robinson-Patman Act b. Lanham Act c. Federal Trade Commission Act d. Fair Trade Act e. Unfair Practices Act

Q: Twenty years after the Clayton Act, the growth of chain stores such as Sears led many to fear that retail chains presented a threat to smaller, independent retailers. The federal government enacted the __________ to make it unlawful to discriminate in prices charged to different purchasers of the same product, where the effect may substantially lessen competition or help to create a monopoly. a. Robinson-Patman Act b. Fair Trade Act c. Clayton Act d. Lanham Act e. Unfair Practices Act

Q: The purpose of the Robinson-Patman Act is to a. outlaw price discrimination for purchasers of the same product. b. encourage pure competition. c. protect inventors from having their intellectual property stolen. d. repeal the Sherman Antitrust Act. e. provide incentives for interstate commerce.

Q: The __________ makes it unlawful to discriminate in prices charged to different purchasers of the same product, where the effect may substantially lessen competition or help to create a monopoly. a. Fair Trade Act b. Clayton Act c. Lanham Act d. Robinson-Patman Act e. Unfair Practices Act

Q: Which of the following laws has the purpose of protecting competition? a. Prevention and Enforcement Act b. Clayton Act c. Federal Trade Commission Act d. Fair Trade Act e. Unfair Practices Act

Q: The purpose of the __________ is to forbid certain actions that are likely to lessen competition, although no actual harm has yet occurred. a. Federal Trade Commission Act b. Lanham Act c. Clayton Act d. Sherman Antitrust Act e. Robinson-Patman Act

Q: The purpose of the Clayton Act is to a. provide incentives for interstate commerce. b. forbid actions that are likely to lessen competition, although no actual harm has yet occurred. c. exact compensation from firms found guilty of violating fair trade practices. d. repeal provisions of the Sherman Antitrust Act. e. strengthen the Robinson-Patman Act.

Q: Which of the following laws has the purpose of protecting competition? a. Lanham Act. b. Federal Trade Commission Act. c. Fair Trade Act. d. Unfair Practices Act. e. Sherman Antitrust Act.

Q: The first major federal legislation passed to forbid actual monopolies or attempts to monopolize any part of trade or commerce in the United States was the a. Lanham Act. b. Federal Trade Commission Act. c. Robinson-Patman Act. d. Sherman Antitrust Act. e. Clayton Act.

Q: The first major federal legislation passed to forbid contracts, combinations, or conspiracies in restraint of trade in the United States was the a. Lanham Act. b. Sherman Antitrust Act. c. Federal Trade Commission Act. d. Robinson-Patman Act. e. Clayton Act.

Q: The first major federal legislation passed to encourage competition in the United States was the a. Sherman Antitrust Act. b. Lanham Act. c. Federal Trade Commission Act. d. Robinson-Patman Act. e. Clayton Act.

Q: A car collector, Mr. F. Hansen, who said his 1975 Chevrolet Corvette was certified as the last Corvette convertible to be produced, sued General Motors to stop it from manufacturing any more of the convertible sports cars. The suit also requested $1. million in damages. Hansen claimed he bought the car for its collector's value. It came with a letter from GM dated August 25, 1975, which said that the car was "the last Corvette convertible that General Motors Corp. would ever manufacture." Hansen said the value of his car has been decreasing ever since GM resumed manufacturing Corvette convertibles in 1985. If the court ruled in favor of Mr. Hansen, what general type of regulation would such a ruling represent? a. protecting companies from one another b. protecting consumers from unfair trade practices c. protecting the future interests of society from dangerous business practices d. protecting consumers from one another e. protecting businesses from unfair consumer practices

Q: F. Hoffman-LaRoche Ltd. and BASF AG, two international pharmaceutical companies, were ordered to pay $725 million in fines for plotting to raise and fix prices of vitamins used in virtually every home in the United States. This is an example of how __________ forces affect the marketing environment. a. economic b. ecological c. technological d. social e. regulatory

Q: Regulation refers to a. the restrictions that state and federal laws place on business with regard to the conduct of its activities. b. constraints placed on businesses for activities that are legal but unethical. c. society's values and standards that are enforceable in the courts. d. requirements concerning which customers a firm may serve or not serve. e. the moral principles and values that govern the actions and decisions of an individual or group.

Q: The restrictions that state and federal laws place on business with regard to the conduct of its activities are referred to as a. jurisprudence. b. competitive constrains. c. barriers to entry. d. restraints of trade. e. regulation.

Q: Small businesses account for __________ of the gross domestic product (GDP). a. 25 percent b. 30 percent c. 50 percent d. 65 percent e. 80 percent

Q: Small businesses make up the majority of the competitive landscape for most businesses. There are approximately __________ small businesses in the United States. a. 17 million b. 27 million c. 37 million d. 50 million e. 100 million

Q: Competitive pressures among existing firms depend on a. the current economic growth rate. b. the total number of established competitors. c. low fixed costs. d. the rate of industry growth. e. the availability of raw materials and natural resources.

Q: Powerful buyers exist when a. there are many buyers. b. switching costs are low. c. the product represents a small share of the buyer's total costs. d. the product is critical to the buyer. e. preemptive practices exist.

Q: Barriers to entry include capital requirements, switching costs, advertising expenditures, and a. personnel shortages. b. distribution access. c. field of experience. d. inventory deficits. e. prior enterprise failures.

Q: Barriers to entry refer to a. business practices or conditions that make it difficult for new firms to enter the market. b. governmental prohibitions regarding the establishment of businesses that are considered immoral. c. governmental prohibitions regarding the establishment of businesses that are considered legal but unethical. d. restrictive fees that are set intentionally high in order to prevent additional competition in an already highly competitive industry. e. strong-armed tactics that are illegal but commonly used in certain industries to hinder competition.

Q: Business practices or conditions that make it difficult for new firms to enter the market are referred to as __________. a. market obstructions b. barriers to entry c. switching costs d. import-export firewalls e. preemptive practices

Q: The factors that drive competition include a. monopolistic competition, cross-market competition, entry, and the bargaining power of buyers and suppliers. b. cross-market competition, entry, the bargaining power of buyers and suppliers, and substitution possibilities. c. monopolistic competition, cross-market competition, bargaining power of buyers and suppliers, existing rivalries. d. entry, the bargaining power of buyers and suppliers, existing rivalries, and substitution possibilities. e. cross-market competition, entry, bargaining power of buyers and suppliers, and federal regulation.

Q: Since ___________ is regulated by the state or federal government, marketing plays a relatively small role in this setting. a. pure competition b. a pure monopoly c. an oligopoly d. monopolistic competition e. a megopoly

Q: In marketing, the form of competition that occurs when only one firm sells the product is referred to as __________. a. pure competition b. a megopoly c. an oligopoly d. monopolistic competition e. pure monopoly

Q: Kodak, Fuji, and Agfa control the majority of sales for traditional 35mm photographic film. The film industry is an example of a(n) __________. a. monopoly b. mega monopoly c. oligopoly d. pure competition e. monopolistic competition

Q: As of late 2011, the four major retailers of online music include the iTunes, Napster, Amazon, and Rhapsody. In terms of the form of competition, this industry is an example of a(n) __________. a. monopoly b. mega monopoly c. pure competition d. oligopoly e. monopolistic competition

Q: Boeing, Northrup Grumman, and Lockheed Martin control the vast majority of the U.S. defense contractor industry. In terms of the form of competition, this industry is an example of a(n) __________. a. oligopoly b. trilateral monopoly c. monopoly d. pure competition e. monopolistic competition

Q: According to a 2011 Federal Communications Commission report, AT&T, Verizon, Sprint-Nextel, and T-Mobile control the vast majority of the subscribers in the U.S. wireless mobile phone market. Which form of competition characterizes this market? a. pure competition b. limited competition c. a monopoly d. an oligopoly e. monopolistic competition

Q: Because there are few sellers, price competition among firms is not desirable in which form of competition? a. pure competition b. cross-market competition c. a monopoly d. monopolistic competition e. an oligopoly

Q: The form of competition where just a few companies control the majority of industry sales is referred to as __________. a. pure competition b. cross-market competition c. an oligopoly d. monopolistic competition e. a monopoly

Q: During the Christmas season, many catalog retailers offer buyers price reductions, coupons, two-for-one deals, and/or free delivery. This is because these catalog retailers operate in a(n) __________ environment. a. pure competition b. oligopoly c. monopolistic competition d. monopoly e. marginal competition

Q: Paul Avery is a salesperson at the only Ford automobile dealership in Wausau, Wisconsin. However, there are several other auto dealerships in town, offering both domestic and foreign cars and trucks. Paul works hard to keep his customers satisfied because he knows that if his customers are unhappy, they can simply buy a car from one of the several other comparable dealers in Wausau. This is an example of a. pure competition. b. monopolistic competition. c. an oligopoly. d. a monopoly. e. marginal competition.