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Firm A notices that Firm B is making a profit by producing footballs.There is nothing stopping Firm A from entering the football market,so it does.Holding all else constant,the number of firms in the market will:
Factual
Based on facts; representing information that is true and can be verified through evidence or observation.
Experimental
Pertaining to a method of investigation or testing that involves controlled conditions to explore hypotheses, establish causality, or discover effects.
Logical
Pertaining to clear, formal reasoning, or relating to the use of reason and understanding to assess ideas and arguments.
Intuitive Thinking
Intuitive thinking is a cognitive process that occurs without explicit reasoning, relying on instinctive feelings rather than systematic analysis of information.
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