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A critical variable in determining whether modeled behavior will be imitated is
Hurricane Katrina
One of the deadliest hurricanes to hit the United States, causing widespread destruction along the Gulf coast, particularly in New Orleans, in August 2005.
Price Floor
A government-imposed limit on how low a price can be charged for a product, aimed to ensure fair conditions for producers.
Temporary Surplus
A situation where the supply of a product exceeds demand for a short period, often leading to price reductions.
Permanent Surplus
A situation in which the supply of a particular good or service persistently exceeds demand, often leading to long-term price declines.
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