In Science,a Theory Is

question 3

Multiple Choice

In science,a theory is

• A)an educated guess.
• B)less than a fact.
• C)a synthesis of a large body of well-tested knowledge.
• D)unchangeable.

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Definitions:

Oligopoly

A market structure characterized by a small number of firms that hold a significant market share, leading to limited competition.

Price Discrimination

A pricing strategy where a business charges different prices to different customers for the same product or service, based on what the seller believes the customer is willing to pay.

Producer

An individual or organization that creates goods or services to sell to consumers.

Price Discrimination

The strategy of selling the same product or service at different prices to different groups of consumers, typically based on willingness to pay.