In a Large Metropolitan Market, It Is Relatively Easy to Set

question 166

Multiple Choice

In a large metropolitan market, it is relatively easy to set up a law office.The ease of entry explains why you will find hundreds of lawyers listed in the New York City phone book.Each lawyer is a close substitute for another but with slight differences.Which of the following market structures best describes the one in which lawyers operate?

• A)pure competition
• B)perfect monopoly
• C)monopolistic competition
• D)oligopoly
• E)none of the above

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Definitions:

Psychology

The scientific study of the mind and behavior, exploring various aspects from biological foundations to social influences.

Study of Consciousness

The examination of the nature and properties of the state of being aware of and able to think about oneself and the environment.

John Watson

An American psychologist who is considered one of the founders of behaviorism, emphasizing the study of observable behaviors rather than the mind.

1960s

A decade known for significant cultural and social change worldwide, often associated with civil rights movements and counterculture.