Which of the Following Is Not One of the Three

question 42

Multiple Choice

Which of the following is not one of the three major categories of galaxies?

• A) Globular galaxies
• B) Elliptical galaxies
• C) Spiral galaxies
• D) Irregular galaxies

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Definitions:

Competitive

A market structure characterized by a large number of firms or sellers where each has a small proportion of market share and there is free entry and exit from the market.

Output

The total quantity of goods or services produced by an individual, system, or entity within a specific period, often used as a measure of productivity or economic activity.

Oligopolistic Industry

A market structure characterized by few firms where each has significant control over pricing and competition.

Elastic Firm Demand

Describes a situation where the demand for a firm's products is highly sensitive to changes in price, indicating consumers are likely to change their purchasing behavior if the price changes.