Which of the Following Is a Web 2

question 3

Multiple Choice

Which of the following is a Web 2.0 application?

• A)auctions
• B)blogs
• C)shopping carts
• D)e-catalogs

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Definitions:

Purely Competitive

Refers to a market structure characterized by a large number of small firms, a homogeneous product, and free entry and exit, leading to price-taking behavior.

Herfindahl Indexes

Measures of market concentration, calculated as the sum of the squares of the market shares of all firms within the industry.

Market Power

The ability of a firm or group of firms to influence the price and production levels in the market to their advantage, often due to limited competition.

Concentration Ratio

A measurement of the market share or output controlled by the largest firms within an industry, used to assess the level of competition.