Question

An industry is defined as:
a. A group of firms producing the same item.
b. Firms producing items that sell through the same distribution channels.
c. Firms that have the same seven digit standard industrial code.
d. A group of firms producing products that are close substitutes.

Answer 1

Answer:

A group of firms producing products that close substitutes

Answer 2

Answer:

doctrine of the consumer surplus is based on