When We Enlarge a Photograph of an Iron Ring, the Image

question 32

Multiple Choice

When we enlarge a photograph of an iron ring, the image of the hole becomes

• A)smaller.
• B)larger.
• C)neither smaller nor larger.

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Definitions:

Monopoly Powers

The ability of a single seller or company to control the market for a good or service, often resulting in limited competition.

Impossibility Theorem

A theory, often associated with economist Kenneth Arrow, stating that no rank-order voting system can simultaneously fulfill certain fairness criteria.

Paul Samuelson

An American economist known for his contributions to many areas of economic theory; the first American to win the Nobel Memorial Prize in Economic Sciences.

Market Failure

A situation where the allocation of goods and services by a free market is not efficient, often leading to negative externalities or a misallocation of resources.