As a Lexical Definition, the Definition "'Refrigerator' Means a Compartment

question 54

Multiple Choice

As a lexical definition, the definition "'Refrigerator' means a compartment having one or two doors intended for storing food" may be criticized as:

• A) Being figurative.
• B) Failing to convey the essential meaning of the word being defined.
• C) Being vague.
• D) Being ambiguous.
• E) Failing to indicate the context to which the definiens pertains.

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Definitions:

Pure Monopoly

A market structure where a single supplier provides a unique product or service with no close substitutes, controlling the entire market.

Oligopoly

A market structure characterized by a small number of firms controlling a large majority of the market share, often leading to limited competition.

Monopolistic Competitive

A market structure characterized by many firms selling products that are substitutes but differentiated from one another, leading to non-price competition.

Short Run

A period in economics during which at least one input, such as plant size, is fixed and cannot be changed by a firm.