In Order to Create a Constant, Which of the Following

question 25

Multiple Choice

In order to create a constant, which of the following Java reserved words is used?

• A) private
• B) static
• C) int
• D) final
• E) class

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Definitions:

Purely Competitive Industry

An industry characterized by many sellers offering identical products, where no single seller can influence the market price.

Long-run Equilibrium

A state in which all inputs and outputs in an economy are optimally allocated, and all firms make zero economic profit, reflecting no incentives for market entry or exit.

Consumer Demand

The desire of consumers to purchase goods and services at given prices, which can vary with changes in income, preferences, and prices of related goods.

Purely Competitive Firm

A company operating in a market where there are many buyers and sellers, the product is homogeneous, and there are no barriers to entry or exit.