Viscosity Is a Measure of a Substance's

question 43

Multiple Choice

Viscosity is a measure of a substance's

• A)ability to resist changes in its surface area.
• B)resistance to flow.
• C)surface tension.
• D)compressibility.
• E)color.

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Definitions:

Contestable Market

A market in which the costs of entry and exit are low, so a firm risks little by entering. Efficient production and zero economic profits should prevail in a contestable market.

Economic Profits

Profits earned by a firm after accounting for both its explicit and implicit costs, including opportunity costs.

Property Rights

The legal rights to use, control, and derive benefits from a resource, good, or property.

Natural Resources

Materials or substances occurring in nature which can be exploited for economic gain, such as minerals, forests, water, and fertile land.