The Open Universe Would Require Ωₒ Be Less Than Zero

question 25

True/False

The open universe would require Ωₒ be less than zero.

---

Definitions:

Purely Competitive

A purely competitive market is one in which there are many buyers and sellers, all trading homogeneous products, with no single entity able to control the market price.

Market

A virtual or physical place where buyers and sellers come together to trade goods, services, or financial instruments.

Allocative Efficiency

A state of the economy in which resources are allocated in a way that maximizes the overall benefit to society, with goods and services produced at their highest-valued uses.

Purely Competitive

A market format where numerous small companies offer an identical product with no barriers to entering or leaving the market, resulting in firms accepting the market price as given.