Identify the Color That Has a Wavelength of 700 Nm

question 77

Multiple Choice

Identify the color that has a wavelength of 700 nm.

• A) blue
• B) green
• C) red
• D) yellow

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Definitions:

Monopoly Firm

A business entity that is the sole provider of a particular product or service in the market, resulting in the lack of competition.

Pure Monopoly

A market structure where a single seller controls the entire market for a particular good or service with no close substitutes.

Close Substitutes

Products or services that can easily replace each other in the eyes of the consumer, having a high degree of interchangeability.

Socially Optimal Output

The level of production of goods and services that leads to the maximum possible economic efficiency and welfare in society, considering both benefits and costs.