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

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Definitions:

Germinal Period

The initial two weeks of prenatal development following conception, characterized by rapid cell division and the beginning of cell differentiation.

Second Trimester

The middle part of pregnancy, spanning from week 13 to week 26, characterized by the rapid growth of the fetus and the visible signs of pregnancy in the mother.

Fetal Period

Occurs during the ninth week of prenatal development to birth, in which the fetus grows rapidly, and its organs become more complex and begin to function.

Latino Paradox

The epidemiological finding that Hispanic and Latino Americans tend to have health outcomes that are surprisingly better than those of non-Hispanic white Americans, despite lower average income and education levels.