When Firms Have the Ability to Restrict Output,raise Prices,stifle Competition,and

question 39

Multiple Choice

When firms have the ability to restrict output,raise prices,stifle competition,and inhibit innovation,the market failure involved is

• A)Public goods.
• B)Externalities.
• C)Market power.

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Definitions:

ΔH°

The standard enthalpy change, indicating the heat absorbed or released in a reaction at standard conditions (1 atm, 298 K).

ΔS°

Standard entropy change, a measure of disorder or randomness in a system during a process at standard conditions.

Reactant A

A placeholder term for a substance that undergoes a chemical change in a chemical reaction.

Product B

A term that broadly refers to a secondary or resultant compound generated in a chemical reaction, distinguished from other products by its labeling as "B".