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In a hearing test, subjects estimate the loudness (in decibels) of sound, and the results are;
68, 67, 70, 71, 68, 75, 68, 62, 80, 73, 68
-What is the 10th percentile?
Easy Entry And Exit
Characteristics of a market where companies can freely enter or leave without significant barriers or costs.
Patented Prescription Drug
A medication that is protected by a patent, giving its manufacturer the exclusive right to produce and sell the drug for a certain period.
Lack Of Substitutes
A market condition where there are no close alternatives to a product, leading to higher consumer dependency on that product.
Monopoly
An industry controlled by a monopolist.
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