Briefly and Concisely Define the Following Terms and Explain Their

question 205

Essay

Briefly and concisely define the following terms and explain their importance in the study of economics.
a. excess capacity theorem
b. price leadership
c. kinked demand curve
d. perfectly contestable market

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Definitions:

Apicomplexans

A group of protozoan parasites, known for their role in diseases such as malaria.

Parasitic

Describes organisms that live on or in a host organism and get their food at the expense of their host, often causing harm.

Amoebozoa

Members of the unikont clade characterized by lobose pseudopodia at some time in the life cycle; include amoebas, plasmodial slime molds, and cellular slime molds. Compare with opisthokonts.

Unicellular

Describes organisms made up of a single cell, which performs all necessary functions for life, such as bacteria and some algae.