Air Bag System Service Is Being Discussed

question 55

Multiple Choice

Air bag system service is being discussed. Technician A says an air bag simulator can be installed in place of the air bag thereby allowing accurate testing of the circuits without the fear of accidental air bag deployment. Technician B says sensors are checked by back-probing the connector. Who is correct?

• A)A only
• B)B only
• C)both A and B
• D)neither A nor B

Describe the dynamic adjustment process toward long-run equilibrium in monopolistically competitive markets.

Identify the conditions under which a monopolistically competitive firm can earn zero, positive, or negative profits.

Understand the concept of imperfect competition and its variants, including monopolistic competition and oligopoly.

Understand the concept of product-variety and business-stealing externalities in monopolistic competition.

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Definitions:

Commercial Unit

A term used in sales law referring to a standard or unit of goods that is regarded as a single whole for purposes of sale and division.

Accept Goods

The act of receiving or taking delivery of goods in a manner that conforms with the terms of a contract.

Nonconformity

A deviation or failure to meet specified standards, often relating to quality or performance in products or services.

Replace Defective

The process of substituting goods or services that are flawed or do not meet the contractual specifications.