Answer the following statements true (T) or false (F)
1. When firms cannot alter the price they face in the market, they are said to be price takers.
2. An outward shift in the demand curve in a perfectly competitive market will result in an
increase in supply and make the demand curve more inelastic.
3. Non-price competition refers to actions that attempt to increase the demand for a product or
service via product differentiation.
4. Barriers to entry are more likely to be stronger under monopolistic competition than under an
oligopoly.
5. The U.S food and fiber system is one of the least regulated industries in the economy.
1. TRUE
2. FALSE
3. TRUE
4. FALSE
5. FALSE
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A lead-acid battery's internal resistance can be measured using an ohmmeter.
Answer the following statement true (T) or false (F)
Vibration can cause a very rough cut when turning parts on a lathe. To prevent this, a(n) ____________________ is used to dampen vibration during machining.
Fill in the blank(s) with the appropriate word(s).
Liquid refrigerant should always be recovered first from chillers:
A) To ensure the best mixing of refrigerant and water during recovery. B) To ensure that all the oil is removed from the compressor. C) To keep from freezing the water in the chiller tubes. D) To prevent the removal of refrigerant oil with the refrigerant.
Electronics as a discipline within the field of physical science emerged from the discovery of __________
A. microwaves B. gamma rays C. cosmic rays D. radio waves