Instant Messaging Is a Type of ________ Service

question 20

Multiple Choice

Instant messaging is a type of ________ service.

• A) chat
• B) cellular
• C) e-mail
• D) wireless

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Definitions:

Monopolistic Competition

A trading structure inhabited by many corporations pushing products that are analogous but not carbon copies, which affords them a degree of control over the market.

Differentiated Products

Goods that are fundamentally similar but are distinguished from each other by characteristics like quality, branding, and features.

Perfect Competition

A market structure characterized by many sellers and buyers, homogeneous products, and the absence of barriers to entry or exit.

Excess Capacity

A situation in which a firm produces less than the maximum output due to lack of demand or strategic choice, leading to underutilized resources.