Assume All Markets Are in Long-Run Equilibrium

question 146

Multiple Choice

Assume all markets are in long-run equilibrium.Market price in a duopoly would be ________ the market price in a monopoly,and ________ the market price in a competitive market.

• A) less than or equal to; less than or equal to
• B) less than or equal to; greater than or equal to
• C) less than; equal to
• D) greater than; equal to
• E) greater than or equal to; less than or equal to

---

Definitions:

Duals

A term often used in automotive contexts to refer to dual sets of tires, exhaust pipes, or other paired components for improved performance or capacity.

GVW

Gross Vehicle Weight, the maximum operating weight/mass of a vehicle as specified by the manufacturer, including the vehicle's chassis, body, engine, engine fluids, fuel, accessories, driver, passengers, and cargo.

Computer-Controlled

Refers to devices or systems that are operated or regulated by computer software.

Hydromechanically Managed

describes systems or mechanisms that are controlled or regulated through a combination of hydraulic and mechanical means, often for precision and efficiency.