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In 1851 Jean Bernard Leon Foucault demonstrated the rotation of the Earth using a pendulum 11.0 m long, which was set up in the Paris Observatory. What was the period of oscillation of the pendulum?
Price Ceiling
A maximum legal price that can be charged for a good or service, aimed at preventing prices from becoming too high.
Equilibrium Price
The market price at which the quantity of a good demanded equals the quantity supplied, leading to no excess supply or shortage.
Abolished
Refers to formally putting an end to a system, practice, or institution.
Government Involvement
Refers to the activities and interventions by the government in the market to regulate or support economic operations and social policies.
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