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Describe each of the following five theories of forgetting, and include examples to illustrate each: decay theory, interference theory, motivated forgetting, encoding failure, and retrieval failure theory.
Unimpeded Entry
A situation in a market where there are no obstacles preventing new competitors from entering and competing.
MR = MC Rule
A principle in economics stating that profit maximization occurs when marginal revenue equals marginal cost.
Short Run
A period in economics where at least one input is fixed and cannot be changed.
Long Run
A period of time in economics during which all factors of production and costs are variable, allowing for full adjustment to changes.
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