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In 2005, General Motors introduced a blockbuster promotion by offering customers the employee discount prices for any vehicle. Chrysler and Ford followed the trend and offered the same program. This intense price competition among three major automobile producers resulted in lower profits for all three companies. This outcome illustrates a problem for firms in: a) pure competition. b) pure monopoly. c) monopolistic competition. d) oligopolistic markets.
In 2005, General Motors introduced a blockbuster promotion by offering customers the employee discount prices for any vehicle. Chrysler and Ford followed the trend and offered the same program. This intense price competition among three major automobile producers resulted in lower profits for all three companies. This outcome illustrates a problem for firms in oligopolistic markets.
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Asked 9/25/2012 7:06:02 PM
Updated 8/11/2018 1:27:49 PM
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In 2005, General Motors introduced a blockbuster promotion by offering customers the employee discount prices for any vehicle. Chrysler and Ford followed the trend and offered the same program. This intense price competition among three major automobile producers resulted in lower profits for all three companies. This outcome illustrates a problem for firms in oligopolistic markets.
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Added 8/11/2018 1:27:49 PM
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In choosing your career, you must consider the key dimensions of the business environment and your place within it. That would mean that you should: consider your interests and abilities as well as those skills you learned in college.

Added 10/19/2014 11:34:44 AM
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Updated 8/18/2024 11:59:04 AM
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Added 8/18/2024 11:59:02 AM
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