What Does "Ex Post Facto" Mean

question 36

Multiple Choice

What does "ex post facto" mean?

• A) before the study
• B) after the study
• C) past due
• D) after the fact

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Definitions:

Monopolistically Competitive

A type of market organization where a large number of enterprises sell products that are closely related but not exact replicas, enabling these firms to possess a measure of market control.

Purely Competitive

A market structure characterized by a large number of buyers and sellers, homogenous products, and the ease of entry and exit, leading to price determination by the market.

Demand Schedule

A table that lists the quantity of a good that consumers are willing to buy at different price points.

Monopolistically Competitive

Illustrates a market model in which numerous enterprises sell goods that are alike but not perfectly identical, enabling them to possess a certain amount of dominance in the market.