Which of the Following Statements, If Any, Is False

question 15

Multiple Choice

Which of the following statements, if any, is false?

• A) Gene therapy involves the direct genetic modification of the cells of a person (or animal model) to achieve a therapeutic goal.
• B) Current gene therapy is directed at modifying somatic cells.
• C) The only successful gene therapies are those in which cells are removed from a patient, genetically modified, and then returned to the patient.
• D) Gene therapy successes have largely involved treatment of recessively inherited disorders.

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Definitions:

Perfect Competition

A market structure characterized by a large number of small firms, a homogeneous product, free entry and exit, and perfect information.

Inelastic Demand

Demand that responds somewhat, but not a great deal, to changes in price. Inelastic demand always has a numerical value between zero and 1.

Zero Profits

A situation where a firm’s total revenues are exactly equal to its total costs, leading to no net profit or loss.

MC = ATC

This is the point where Marginal Cost equals Average Total Cost, typically illustrating the most efficient scale of production in the short run.