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Solve.
-Scott set up a volleyball net in his backyard. One of the poles, which forms a right angle with the ground, is 7 feet high. To secure the pole, he attached a rope from the top of the pole to a stake 5 feet from the bottom of the pole. To the nearest tenth of a foot, find the length of the rope.
Monopolistic Competition
A market structure characterized by many producers selling products that are similar but not identical, allowing for competition.
Industry Entry and Exit
The process by which new competitors enter and existing firms exit a market or industry, often influenced by barriers to entry, market competition, and profitability.
Long-Run Profits
Long-run profits are the earnings a firm expects to achieve over a period during which all inputs, including capital, can be fully adjusted.
Elastic
Describes a situation where the demand or supply for a good or service significantly changes in response to changes in price.
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