This Type of Image Is Made Up of Geometric Shapes

question 56

Multiple Choice

This type of image is made up of geometric shapes or objects.

• A) Raster
• B) Bitmap
• C) Vector
• D) Pixel

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Definitions:

Monopolistic Competitors

Firms that have many competitors but distinguish themselves through product differentiation, allowing them some control over their prices.

Average Total Cost Curves

A graphical representation showing the average cost per unit of output at different levels of production.

Monopolistic Competitor

A firm operating in a market with many competitors but differentiating its product or services from others, thus having some degree of market power.

Price Discrimination

A strategy where a company sells the same product at different prices to different customers, not based on costs but typically on willingness or ability to pay.