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If You Have Ever Looked Up Someone's Phone Number,but Were

question 183

Multiple Choice

If you have ever looked up someone's phone number,but were unable to write it down,and you repeated it over and over again,then you have engaged in:


Definitions:

Cournot Equilibrium

A concept in economic theory where firms reach a state in which each firm chooses the optimal output level assuming the output levels of the other firms.

Duopoly

A market structure characterized by two producers/sellers in competition with each other.

Constant Costs

Costs that remain unchanged regardless of the level of output or activity within a certain range.

Corncob Pipes

Pipes made from the dried cob of a corn plant, often used for smoking tobacco.

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