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Coffee shops and gasoline stations in a large city would appear to be examples of competitive markets. The means that there are numerous relatively small sellers, each seller is a price-taker and the products are quite similar. How could we argue that these markets are not competitive? (or can we?) Could each firm face a demand curve that is not perfectly elastic? How profitable do you expect coffee shops and gasoline stations to be in the long run?
Please use outside sources to reference your work.
The data contained in the following table shows the tradeoffs that occur in an economy that produces only two types of products: pharmaceutical and computer-related technological products. Use the data given in the table to graph the production po..
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Your computer is having network connectivity issues. One of the first troubleshooting steps is to ping the loopback address. Why? What is a loopback address?
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