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After serving in Congress,George McGovern ran a successful hotel in Stratford,Connecticut.
Mom and Pop Restaurants
Independent, family-owned eateries that often offer a unique, personal dining experience compared to chain restaurants.
Four-Firm Concentration Ratios
A measure used in economics to assess the level of market concentration and competition among the four largest firms in an industry.
Monopolistically Competitive Industries
Industries in which many firms offer products or services that are similar, but not perfect substitutes, allowing for significant differentiation and some degree of pricing power.
Minimum Wage
The lowest legal wage that employers can pay workers, aimed at protecting workers from unduly low pay.
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Q88: The legal system consists of the institutions