Ask Question
BusinessBusiness
21 September, 17:17

When Toyota experienced declining sales as a result of quality and safety issues, it began offering buyer incentives to new-car buyers. Nearly immediately, Ford and General Motors began similar promotions. These businesses

represent an oligopoly in which there are few sellers, and each seller has considerable control over price (T/F)

+5
Answers (1)
  1. 21 September, 17:23
    0
    true

    Explanation:

    Based on the information provided within the question it can be said that the statement being made is completely true. Like mentioned in the statement, in an oligopoly the few BIG sellers in a market have complete control over the price. In this scenario Toyota, Ford and GM are the big sellers and when one adjusts their prices the other tend to adjust their prices accordingly in order to not lose their customers to the competition.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “When Toyota experienced declining sales as a result of quality and safety issues, it began offering buyer incentives to new-car buyers. ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Curtab, a company that manufactures digital watches, implements marketing strategies to attempt to eliminate analog watches from the market and thereby increase the market share of the company.
Answers (1)
Sharp Corporation produces 8,000 parts each year, which are used in the production of one of its products.
Answers (1)
Transaction processing systems are most commonly encountered at the senior management level of an organization. True / False.
Answers (1)
Joe and Michelle have a partnership firm. Based on the income-based method of calculating GDP, what category is the income earned by their partnership firm a part of?
Answers (1)
Human capital refers to: A. physical capital owned by households rather than businesses. B. the accumulated financial wealth of households. C. the skills and knowledge that enable a worker to be productive. D. machinery used by labor in production.
Answers (1)
New Questions in Business
A friend comes up to you and offers you a free ticket to a professional baseball game that night. You decide to attend the game. The game takes five hours and costs you $15 for transportation.
Answers (2)
Cash flows from operating activities for both the indirect and direct methods are presented for Electronic Transformations.
Answers (1)
A subtle form of racial discrimination in housing is "racial steering." racial steering occurs when real estate agents show prospective buyers homes only in neighborhoods already dominated by that family's race.
Answers (1)
Candy, Inc. signed an agreement with Sweet Plantation. Under the contract, Candy, Inc. agreed to purchase all the sugar cane Sweet Plantation grew during the coming season for $0.16 per pound. This contract will be unenforceable due to its vagueness.
Answers (1)
Why is it not useful to look around the room when listening to a speech?
Answers (1)
Home » Business » When Toyota experienced declining sales as a result of quality and safety issues, it began offering buyer incentives to new-car buyers. Nearly immediately, Ford and General Motors began similar promotions.
Sign Up Forgot Password?