Assume It Is Announced That a Large Number of New

question 15

Multiple Choice

Assume it is announced that a large number of new competitors have entered the market for mountain bikes,each offering a different model.Based on this information,this industry is best characterized as:

• A)perfectly competitive.
• B)a monopoly.
• C)monopolistically competitive.
• D)an oligopoly.

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Definitions:

Parapodia

Parapodia are paired, lateral extensions on each segment of some annelids, such as polychaetes, used for locomotion and sometimes respiration.

Bivalve

Type of mollusc with a shell composed of two valves; includes clams, oysters, and scallops.

Oyster

A type of bivalve mollusk found in marine or brackish waters, often cultivated for food or pearls.

Slug

A terrestrial mollusk with a soft, unsegmented body, typically lacking a visible shell.