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A park ranger wanted to measure the height of a tall tree. The ranger stood 9.50 m from the base of the tree; and he observed that his line of sight made an angle of 65.2° above the horizontal as he looked at the top of the tree. The park ranger's eyes are 1.80 m above the ground. What is the height of the tree?
Stackelberg Leader
The Stackelberg leader refers to the dominant firm in a duopoly that makes its production decision first, thereby influencing the market actions of the following competitor.
Marginal Cost
The extra charge incurred upon the production of an additional good or service unit.
Industry Output
The total production of goods and services by all firms within a specific industry sector over a given period of time.
Duopolists
Firms or players in a market where only two producers exist, competing directly with each other.
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