Use the table below to choose the correct answer. 
According to the adaptive expectations hypothesis, at the beginning of period 3, decision makers would expect inflation during period 3 to be
Definitions:
Imperfect Competitor
A firm or entity that has some control over the market price of its product because it does not operate in a perfectly competitive market.
Perfect Competitor
A theoretical market structure where many firms offer identical products, firms are price takers, and there are no barriers to new firms entering the market.
Imperfect Competitor
A market participant who does not follow the norms of perfect competition, possibly due to having some control over prices or market share.
MRP
The additional revenue a firm earns by employing one more unit of input, assuming other inputs remain constant, often used in the context of labor.
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