What Characteristic of a Competitive Market Has Made the "Long

question 51

Multiple Choice

What characteristic of a competitive market has made the "long run pretty short" in the market for iPhone apps?

• A)few firms in the market
• B)identical products
• C)ease of entry
• D)blocked entry

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Definitions:

Toddler

A young child, especially one who is learning or has recently learned to walk, typically aged between one and three years.

American Girl

A brand of dolls and books that aim to teach historical and contemporary stories through characters, focusing on themes of courage, compassion, and respect.

Puberty

The developmental stage during which a child's body transitions into an adult body capable of sexual reproduction.

Age

The length of time that a person or thing has existed, typically measured in years from the date of birth for people.