An Ice Cube with a Small Solid Steel Sphere Frozen

question 79

Multiple Choice

An ice cube with a small solid steel sphere frozen inside floats in a glass of water filled to the brim.What happens to the level of water in the glass as a result of the ice melting?

• A)It goes up,overflowing.
• B)It stays the same.
• C)It goes down.
• D)It depends on air pressure,thus the answer is indeterminate.

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Definitions:

Purely Competitive

A market structure characterized by a large number of small firms, a homogeneous product, and free entry and exit into the market.

Oligopoly Market Structure

A market form in which a market or industry is dominated by a small number of sellers (oligopolists).

Single Firm

A business entity that is the sole provider of a good or service in a particular market, potentially exhibiting monopoly power.

Large Number of Firms

A characteristic of competitive markets where many firms are present, each having a small share of the market and influencing the price minimally.