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Principles of discontinuity suggest that if an individual arrives in the United States late in life, then it is expected that:
Perfectly Competitive
A market structure characterized by a large number of small firms, identical products, and free entry and exit.
Marginal Cost Curve
A graphical representation showing how the cost of producing one more unit of a good varies as the quantity of the good produced changes.
Average Fixed Cost
The fixed cost per unit of output.
Firm
An organization or business entity that produces goods or provides services with the aim of earning profits for its owners or shareholders.
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