If a disease infects and destroys a large amount of the nation's supply of tomatoes, what is likely to happen to the price of tomatoes? (Select the best answer.) Question 5 options:

The price will go up.

The price will remain the same.

The price will go down.

Question 6 (1 point)
In cases of natural monopolies- such as utility companies- prices are kept under control MAINLY through

Question 6 options:

competition

supply and demand

free market forces

government regulation

Question 7 (1 point)
· firms produce and sell identical products
· firms have a relatively small market share
· consumers are aware of the products and their prices
· there are few barriers to entry into the market

All of these are describing what market type of market structure?
Question 7 options:

monopoly

oligopoly

monopolistic competition

perfect competition

Question 8 (1 point)

In the five C's, how is cost different from price? (Select the best answer.)

Question 8 options:

It includes all of the costs related to the product.

It makes it easier to promote the product.

It reduces the company's operating expenses.

It includes the company's operating costs.

Question 9 (1 point)

You notice that juice is now selling for much higher prices than in the past. Which two things would you expect to happen next? (Select two answers.)

Question 9 options:

Supply will go up

Demand will go down

Supply will go down

Demand will go up

Question 10 (1 point)
Needs, product, source, price, and time could all be known as .

Question 10 options:

Customer objections to a sale

Economic services

Sales promotion

Channel management function