A Monopolistically Competitive Industry Is Characterized by

question 159

Multiple Choice

A monopolistically competitive industry is characterized by

• A)many firms selling products that are similar but not identical.
• B)many firms selling identical products.
• C)a few firms selling products that are similar but not identical.
• D)a few firms selling highly different products.

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Definitions:

Active Faults

Faults that have moved recently (in geological terms) and are likely to experience future earthquakes.

Scarp

1. A linear or curved scar left behind by a landslide on a hillslope, marking where the landslide pulled away from the rest of the hill. 2. A break or step in the land surface formed by movement along a fault (fault scarp).

Linear Ridge

A long, narrow elevation of land, often formed by tectonic processes or the hardening of lava flows.

Short-Term Prediction

The process of forecasting an event, such as an earthquake or volcanic eruption, within a relatively brief time period before it occurs.