One of the Drawbacks of Free Markets Is the Fact

question 5

True/False

One of the drawbacks of free markets is the fact that competition in such markets undermines the ability of price to adjust to its equilibrium value in the long run.

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Definitions:

Directional

In statistics, directional indicates that a hypothesis specifies the direction of an expected difference or relationship.

Alternative Hypothesis

In statistical testing, the hypothesis that proposes there is a statistically significant relationship or difference between two variables, as opposed to the null hypothesis.

Standard Deviations

A measure that quantifies the amount of variation or dispersion of a set of data values from the mean.

Standard Error

The standard deviation of the sample mean distribution, often used to estimate the accuracy of the sample mean compared to the population mean.