In the Short Run, Only a Limited Number of New

question 12

True/False

In the short run, only a limited number of new firms may enter a perfectly competitive market.

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Definitions:

Air

A mixture of gases that constitute the Earth's atmosphere, primarily composed of nitrogen, oxygen, argon, and carbon dioxide.

Unbalanced Reaction

A chemical equation where the number of atoms for each element is not the same on both sides of the equation.

Gunpowder

A mixture of saltpeter (potassium nitrate), sulfur, and charcoal (carbon) that explodes when ignited.

Potassium Nitrate

A chemical compound with the formula KNO3, used as a fertilizer, in food preservation, and in the manufacture of gunpowder.