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Use the standard half-cell potentials listed below to calculate the standard cell potential for the following reaction occurring in an electrochemical cell at 25°C.(The equation is balanced.) 3 Cl2(g) + 2 Fe(s) → 6 Cl⁻(aq) + 2 Fe3+(aq)
Cl2(g) + 2 e⁻ → 2 Cl⁻(aq) E° = +1.36 V
Fe3+(aq) + 3 e⁻ → Fe(s) E° = -0.04 V
Oligopolistic
Referring to a market structure characterized by a small number of firms that have significant control over prices and market share.
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An economic measure of a firm's market power, calculated as the difference between price and marginal cost relative to price.
Monopolistically Competitive
A market structure characterized by many firms selling products that are similar but not identical, allowing for competition primarily through product differentiation.
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