The automobile industry in a developing country has very few sellers. If one automobile company raises the prices of its trucks by a certain amount, other automobile companies in the industry follow by raising prices by a similar amount. This situation is an example of:

Group of answer choices

a monopoly.

monopolistic competition.

pure competition.

an oligopoly.

a monopsony

2

Which of the following organizations mission is to establish and improve standards of financial accounting and reporting for the guidance and education of the public, including issuers, auditors, and users of financial information?

Group of answer choices

Securities Industry Association

American Institute of Certified Public Accountants

Public Company Accounting Oversight Board

Governmental Accounting Standards Board

Financial Accounting Standards Board