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Explain How and Why the United States Had Become So

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Essay

Explain how and why the United States had become so deeply involved with the defense of South Vietnam by the time of President Kennedy's assassination in 1963. How does this compare with U.S. involvement in Vietnam under President Johnson?


Definitions:

Economic Profits

The discrepancy between overall income and all expenses, encompassing both direct and hidden costs.

Resource Allocation

The process of distributing available resources among various competing needs or projects in order to maximize overall efficiency or achieve a desired outcome.

Economic Profits

The distinction in a company's finances that results from deducting both tangible and intangible costs from the total revenue.

Perfectly Competitive Industry

Describes a market structure where many firms sell identical products, entry and exit are easy, and no single buyer or seller has control over prices.

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