If There Are Many Firms Participating in a Market, the Market

question 150

Multiple Choice

If there are many firms participating in a market, the market is either:

• A)an oligopoly or perfectly competitive
• B)an oligopoly or monopolistically competitive
• C)perfectly competitive or monopolistically competitive
• D)all of the above are possible

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Definitions:

Wild Cabbage

The ancestral form of cabbage (Brassica oleracea), a leafy green, red, or white biennial plant, grown as an agricultural crop for its dense-leaved heads.

Artificial Selection

The process by which humans breed plants and animals for particular genetic traits, often leading to dramatic changes in morphology, physiology, and behavior over relatively short time periods.

Brassica Oleracea

A species of plant that includes a variety of vegetables, such as cabbage, broccoli, cauliflower, kale, and Brussels sprouts, due to selective breeding.

Plant Organ

A specialized part of a plant, such as roots, stems, leaves, or flowers, that performs a particular function necessary for the plant's life.