Water Is Pumped Through the Hose Shown Below, from a Lower

question 21

Multiple Choice

Water is pumped through the hose shown below, from a lower level to an upper level.Compared to the water at point 1, the water at point 2:

• A)has greater speed and greater pressure
• B)has greater speed and less pressure
• C)has less speed and less pressure
• D)has less speed and greater pressure
• E)has greater speed and the same pressure

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Definitions:

Free Entry And Exit

A situation in a market where firms can enter and leave the industry without facing significant barriers or costs, promoting competition.

Industry

A sector of the economy that involves the production and distribution of goods or services within a particular field.

Monopolistically Competitive Industry

Describes a market structure where many companies sell products that are similar but not identical, allowing for significant differentiation and some pricing power.

Excess Capacity

The situation in which a firm's actual production is less than its maximum possible production capacity.