Which of the Following Is Likely to Be True in Markets

question 100

Multiple Choice

Which of the following is likely to be true in markets that are not highly competitive?

• A) The costs of production for a single firm are likely to be low.
• B) The level of price competition is likely to be less severe.
• C) It is likely that there is a large number of firms in the market.
• D) The profits earned by firms in this market is likely to be low.

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Definitions:

Neurotransmitters

Chemical substances that transmit signals across a synapse from one neuron to another in the nervous system.

Chemical Messages

Signaling molecules released by cells that affect the behavior or development of other cells, often acting as hormones or neurotransmitters.

Synapses

The junctions through which neurons signal to each other or to non-neuronal cells, allowing for communication within the brain and the nervous system.

Experience-Expectant

A process where the brain develops and organizes itself in response to basic environmental stimuli that have been consistent throughout human evolution.