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Question 1: What creates a monopoly? Give examples.
Question 2: What distinguishes pure competition in the long run from pure competition in the short run?
Business Economics, Economics
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Why do we say there is no unemployment in our standard frictionless model? And why do we HAVE unemployment in a labor market with frictions?
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Four balls are independently projected onto one target, the probability of a hit for each is P1 = 0.1 , P2 = 0.2 , P3 = 0.3 , P4 = 0.4. What are the probabilities P04, P14, P24, P34, P44 that zero, one (1), two (2), thre ...
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