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An electric heater is constructed by applying a potential difference of 110 V across a wire with a resistance of 5.0 Ω. What is the power rating of the heater?
Cartel
An association of independent businesses or countries that collaborate to control prices and limit competition within a particular market or industry.
Market Price
The prevailing cost at which one can buy or sell an asset or service.
Marginal Cost
The augmentation in total costs associated with the production of an additional unit of a product or service.
Cartel
A group of independent market participants who collude to control prices and production in order to monopolize a market.
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