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The reaction of 50 mL of N2 gas with 150 mL of H2 gas to form ammonia via the equation: N2 (g) + 3H2 (g) → 2NH3 (g)
Will produce ________ mL of ammonia if pressure and temperature are kept constant.
Price-taker Market
A market situation where individual sellers or buyers have no control over the price of a product, typically seen in perfectly competitive markets.
Long-run Equilibrium
This is a condition where all factors of production and outputs in an economy or market are optimized and can vary to reach a state of general equilibrium.
Price-taker Industry
An industry in which individual firms have no control over the price of their product and must accept the market price set by the forces of supply and demand.
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