What Characteristic of a Competitive Market Has Made the "Long

question 51

Multiple Choice

What characteristic of a competitive market has made the "long run pretty short" in the market for iPhone apps?

• A)few firms in the market
• B)identical products
• C)ease of entry
• D)blocked entry

---

Definitions:

Behavior Patterns

Repeated sets of actions or reactions exhibited by individuals in response to particular situations or stimuli.

Social Script

Preset, culturally understood sequences of behavior or events in a specific order, guiding interactions and expectations in social situations.

Uncommitted Sex

Sexual activities that occur without the expectation of establishing or within the context of a committed relationship.

Prolactin

A hormone produced by the pituitary gland that stimulates milk production after childbirth and can affect reproductive functions.