In Perfect Competition, Restrictions on Entry into an Market

question 161

Multiple Choice

In perfect competition, restrictions on entry into an market

• A) apply to both capital and labor.
• B) apply to labor but not to capital.
• C) apply to capital but not to labor.
• D) do not exist.

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Definitions:

Watson

Refers to James Watson, who, along with Francis Crick, Maurice Wilkins, and Rosalind Franklin, is credited with discovering the double helix structure of DNA.

Crick

Francis Crick, a British molecular biologist, biophysicist, and neuroscientist, known for co-discovering the structure of DNA along with James D. Watson.

Griffith's Transformation

A process discovered by Frederick Griffith in 1928, demonstrating that a substance from dead bacteria could genetically transform living bacteria.

Avery

Refers to Oswald Avery, a bacteriologist who was instrumental in demonstrating that DNA is the substance that causes genetic transformation.