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Analyze the theory of pluralism. Your essay should discuss the following: (A) the main assumptions of pluralism concerning the role of interests and factions in American politics; (B) James Madison's concerns about factions and their effects on government; and (C) some contemporary criticisms of pluralism in American politics.
Perfectly Elastic
A situation in economic theory where the quantity demanded or supplied of a good changes infinitely in response to any change in price.
Demand Curve
A diagram depicting how the demand for an item varies with its price, generally characterized by a downward trajectory.
Marginal Revenue
The additional earnings gained by selling an extra unit of a good or service.
Marginal Cost
Expenses incurred in creating one more unit of a product.
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