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Which of the following assumptions have to be made regarding the capture-recapture estimate of population size?
I.Marked and unmarked individuals have the same probability of being trapped.
II.The marked individuals have thoroughly mixed with the population after being marked.
III. No individuals have entered or left the population by immigration or emigration, and no individuals have been added by birth or eliminated by death during the course of the estimate.
Economic Profit
calculated as the difference between a firm's total revenue and its total costs, recognizing both explicit and implicit costs, emphasizes a firm's real financial health.
Monopolistically Competitive Firm
A firm that operates in a market structure characterized by many firms selling products that are similar but slightly differentiated, leading to some degree of market power.
Perfectly Competitive
A market structure characterized by a large number of buyers and sellers, homogenous products, free entry and exit, and perfect information.
Long-Run Equilibrium
A state in which all factors of production and variables in the market are at a balance, with no external pressures causing change in the short term.
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