Which Statement Defines Business-Stealing Externality

question 21

Multiple Choice

Which statement defines business-stealing externality

• A)It is the positive externality associated with the gains of consumer surplus in a monopolistically competitive market.
• B)It occurs when one firm attempts to exactly duplicate exactly the product of another firm.
• C)It is considered to be an explicit cost of business in monopolistically competitive markets.
• D)It is the negative externality associated with entry of new firms in a monopolistically competitive market.

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Definitions:

Multiple Intelligence

A theory proposed by Howard Gardner, suggesting that intelligence is not a single ability but consists of multiple intelligences, including linguistic, logical-mathematical, spatial, musical, bodily-kinesthetic, interpersonal, intrapersonal, and naturalistic.

Assimilation

The process of fully understanding or grasping information, behaviors, or cultural practices, often leading to the integration of new knowledge into one's existing understanding.

Cognitive Structures

Mental frameworks and patterns that shape how individuals absorb, process, and organize information.

Piaget's

Relates to the theories of cognitive development proposed by the Swiss psychologist Jean Piaget, which describe how children's intellectual abilities evolve as they grow.