Examlex
The table lists the amount of emissions of a certain pollutant in millions of tons.
If the amount of emissions is modeled by a function of the form where is the year, estimate tl year in which the amount of emissions will be million tons.
Perfect Competitor
A theoretical market structure where many firms sell identical products, there are no barriers to entry or exit, buyers have perfect information, and firms are price takers.
Long Run
A period in economics where all factors of production and costs are variable, allowing for full industry adjustment to changes.
Perfect Competitor
A theoretical market structure where many firms offer a standardized product, there is free entry and exit, and all buyers and sellers have perfect information, leading to price being equal to marginal cost.
Long Run
A period in which all inputs can be adjusted, allowing firms to change their production capacity and industries to enter or exit markets.
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