Examlex
A person with covert prejudicial feelings towards gays and lesbians would most likely have the slowest reaction times to which of the following word pairs presented using the implicit association test?
Perfectly Competitive
A market structure characterized by a large number of small firms, homogeneous products, free entry and exit, and perfect information, where no single firm can influence the market price.
Disequilibrium
A situation in a market where supply does not equal demand, leading to a temporary imbalance and potential for price changes.
Incentive
A factor, either monetary or non-monetary, that motivates individuals or entities to perform an action or engage in a certain behavior.
Long Run
A period of time in economics sufficient for all markets to adjust to changes, including those of supply and demand.
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