Examlex
In a small college town,four microbreweries have opened in the past two years.Demonstrate the effect of these new market entrants on demand for incumbent firms (microbreweries) that already served this market.Assume that the local community now places a moratorium on new liquor licences for microbreweries.How will this moratorium affect the long-run profitability of incumbent firms?
Federalists
Supporters of the ratification of the U.S. Constitution, favoring a strong national government.
Democrats
Refers to the Democratic Party, one of the two major contemporary political parties in the United States, known for its liberal and progressive stances on various issues including social welfare, environmental protection, and civil rights.
Republicans
A member or supporter of the Republican Party, one of the two major contemporary political parties in the United States, typically associated with conservative policies.
Referendum
A direct vote by the electorate on a specific proposal or issue, bypassing the legislative body.
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