Consider the Following Characteristics of a Particular Industry: - There

question 15

Multiple Choice

Consider the following characteristics of a particular industry: - there is freedom of entry and exit
- in long-run equilibrium,each firm is producing a level of output where there are increasing returns to scale
This industry is likely to be

• A)an oligopoly.
• B)highly concentrated.
• C)monopolistically competitive.
• D)perfectly competitive.
• E)a cartel.

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Definitions:

Hallucinations

Perceptual experiences without an external stimulus, commonly associated with mental disorders or neurological conditions.

Major Gene

A gene that has a strong influence on a particular trait or characteristic, often overriding the effects of other genes.

Minor Genes

Genes that contribute subtly to an individual's phenotype, often in complex interaction with other genes and environmental factors.