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Children Who Flew in an Trans-Atlantic Airplane Have Been Exposed

question 2

Multiple Choice

Children who flew in an trans-Atlantic airplane have been exposed to the new virulent strain of influenza. A laboratory has developed a 6-minute antigen assay from nasal swabs to diagnose the disease. The lab ran this test on 1000 samples. In a longer test that is considered the gold standard assay, 200 of these samples were found to be true positives and 800 true negatives. When tested by the new antigen assay, 150 of the true positives tested positive, and 790 of the true negative samples tested negative.
What is the specificity of this antigen assay?

Differentiate between monopoly and perfect competition in terms of pricing, output, and market power.

Recognize the role of scarce resources, technology, and scale economies in the formation of monopolies.

Understand the concept of natural monopolies and recognize examples in the economy.

Identify and understand barriers to entry in monopoly markets.

Definitions:

Supply of Corn

The total amount of corn that producers are willing and able to sell at a given price level in a specific period.

Government Subsidies

Financial assistance provided by the government to support businesses, individuals, or economic sectors.

Ethanol

A volatile, flammable, colorless liquid commonly used as a fuel additive and in alcoholic beverages.

Price of Land

The cost associated with purchasing a parcel of land, reflecting its value, location, and usability.