The Existence of a Large Number of Firms in Monopolistic

question 29

Multiple Choice

The existence of a large number of firms in monopolistic competition

• A)means that each firm has a small market share.
• B)makes it possible for each firm's price to deviate by a large amount from the average price of the other firms.
• C)means that a firm must pay attention to the behaviour of all of its competitors.
• D)makes collusion highly likely.
• E)means that each firm is a price taker.

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Definitions:

Three-Domain System

A classification system in biology that divides cellular life forms into three domains: Archaea, Bacteria, and Eukarya.

Molecular Data

Information at the molecular level, including structures, sequences, or any data related to the molecular composition and interactions within biological or chemical entities.

Prokaryotes

Single-celled organisms that lack a nucleus and other membrane-bound organelles, generally including bacteria and archaea.

DNA Ligase

Enzyme that links DNA fragments; used during production of recombinant DNA to join foreign DNA to vector DNA.