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What Advice Should You Give to a Parent Who Is

question 41

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What advice should you give to a parent who is trying to discourage prejudice in his or her child? ​


Definitions:

Cournot Model

An economic model used to describe an industry structure in which companies compete on the amount of output they will produce, which they decide upon independently of each other and at the same time.

Prevail

To be widespread or dominant, or to win against opposing forces.

Concentration Ratio

A measure used in economics to assess the extent of market control held by the largest firms within an industry.

Profit-maximizing Output

The level of production at which a firm achieves the highest possible profit, where marginal cost equals marginal revenue.

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