A Chart Presented in the Text Showed That Racial and Ethnic

question 7

Multiple Choice

A chart presented in the text showed that racial and ethnic diversity in the U.S.will

• A)increase in the future.
• B)decrease in the future.
• C)decrease until 2050 and then increase.
• D)increase until 2020 and then decrease.

---

Definitions:

Pure Competition

A market structure characterized by a large number of buyers and sellers, similar products, and free entry and exit, leading to price determination by supply and demand forces.

Monopolistic Competition

A market structure where many businesses sell products that are similar but not identical, allowing for competition based on price, quality, and marketing.

Pure Monopoly

A market structure where a single seller controls the entire supply of a product or service, and where entry of new competitors is obstructed.

Oligopoly

A market structure characterized by a small number of firms whose decisions about pricing and output can significantly affect competitors.