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What are the characteristics of a purely competitive market? What makes these important? List at least two industries that are characterized by perfect competition.
People's tendency to attribute their successes to personal effort or special personal trait, while blaming their failures on the faults of others or on something beyond their control is called:
Applying the principle of Caesar cipher, where k takes on a value in the range 1 to 25.The decryption algorithm is p = D(k, C) = (C - k) mod 26. Decrypt the following ciphertext. PHHW PH DIWHU WKH WRJD SDUWB.
You deposit 319 dollars in an account every year for 7 years that earns 10 percent annual interest. What is the present value of your deposits today (the present value of the annuity at time 0)? (your first deposit will be exactly 1 year from now ..
What is the probability that a person wants a better fuel efficiency given that he wants a vehicle navigation system?
Suppose there is a new tax on data usage. The cum-tax monthly bill increases by 15%. If the price elasticity of demand is -0.45, how much does the quantity demanded change?
The market demand for a public good such as environmental quality is found as the horizontal sum of all the individual demands for that good. According to the Coase Theorem, assignment of property rights will permit bargaining that leads to an effici..
According to a recent report in The Economist, the price of tuna has been rising rapidly in the past few years. The prices has risen due to a rightward shift in the demand curve caused by a shift in consumers' taste to healthier sources of protein. D..
Let X be a RV that represents the demand.
What is the difference between demand for insurance and demand for medical care?
A local community voting to raise property taxes to increase school expenditures
Why does the substitution bias cause the consumer price index to overstate inflation and the cost of living?
Assume a majority of governors are reluctant to increase interest rates to fight inflation for fear of causing too much unemployment in the short run. How is this situation most likely to affect the Fed's credibility?
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