The following table summarizes the electric power generation industry in the U.S. from 1917 to 1927. 1927 1922 1917 6,452 5,124 1,418 5,952 $3,060,392,141 105,541 25,438,303,272 25,751,964,800 7,178,703 Number of establishments 4,335 6,355 4,389 1,966 5,444 $4,465,015,691 150,762 40,291,536,435 41,964,785,034 |12,709,868 Generating all or part of current 2,331 Purchasng all current 2,004 Number of separate generating stations Value of plant and equipment Total number of persons employed Current generated, killowatt-hours Current sold, killowatt-hours Number of customers 4,801 $9,297,458,356 |251,020 74,686,378,010 79,011,210,518 21,790,238 Which of the following properly characterizes what has been happening over the ten years? 111 A. Substitutes began to outnumber complements O B. Barriers to entry are decreasing OC. Buyer power is increasing OD. The industry in consolidating

The following table summarizes the electric power generation industry in the U.S. from 1917 to 1927. 1927 1922 1917 6,452 5,124 1,418 5,952 $3,060,392,141 105,541 25,438,303,272 25,751,964,800 7,178,703 Number of establishments 4,335 6,355 4,389 1,966 5,444 $4,465,015,691 150,762 40,291,536,435 41,964,785,034 |12,709,868 Generating all or part of current 2,331 Purchasng all current 2,004 Number of separate generating stations Value of plant and equipment Total number of persons employed Current generated, killowatt-hours Current sold, killowatt-hours Number of customers 4,801 $9,297,458,356 |251,020 74,686,378,010 79,011,210,518 21,790,238 Which of the following properly characterizes what has been happening over the ten years? 111 A. Substitutes began to outnumber complements O B. Barriers to entry are decreasing OC. Buyer power is increasing OD. The industry in consolidating

Microeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506893

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter9: Price Takers And The Competitive Process

Section: Chapter Questions

Problem 15CQ

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