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Explain how a functionalist theorist,such as Émile Durkheim,would analyze the existence and persistence of ethnic enclaves or pockets in the United States (Chinatown,Koreatown,Little Ethiopia,etc. ).
Competing Firms
Businesses that operate in the same market and offer similar products or services to the same consumer base, often engaging in competition for market share.
Intense Market Competition
A market characteristic where numerous firms vie aggressively for market share, leading to innovations and competitive pricing.
Producer Surplus
The difference between the amount producers are willing and able to sell a good for and the actual amount they receive by selling it at the market price.
Price Level
The average of the current prices of goods and services in an economy, which can be compared over time to assess inflation or deflation.
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