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Pick one of the characteristics of a perfectly competitive firm and explain in detail why it may not hold up in real-life. Use a specific example to illustrate your answer.
AT LEAST two paragraphs please
Business Economics, Economics
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A person who is hit by lightning had a 1/4 chance of being killed. What is the probability that someone who is struck by lightning will live to tell about it?
The researchers stated that there were no significant differences in the baseline characteristics of the intervention and control groups. Are these groups heterogeneous or homogeneous at the beginning of the study? Why i ...
What happens if wages and prices adjust very slowly in response to various shocks to the economy? Does this make business cycle, i.e. expansions and contractions in the economy, shorter or longer?
Listen to (or read the transcript of) this podcast (https://www.stlouisfed.org/education/economic-lowdown-podcast-series/episode-16-elasticity-of-demand) from the Federal Reserve Bank of St. Louis. describe your experien ...
Suppose the market for candles is perfectly competitive and is currently in equilibrium what will happen if candles are later linked to more houses catching on fire.
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