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An online banking service requires its customers to select a password that is four characters long. The password is case-sensitive, so upper-case letters are considered to be different than lower-case letters. The first character of the password must be an upper-case letter and the second character must be a digit. The remaining two characters may each be a digit, an uppercase letter, or a lowercase letter. What is the number of possible passwords?
Creative Destruction
A concept in economics that refers to the process by which new innovations lead to the demise of old technologies and economic structures, driving economic growth through renewal.
Joseph Schumpeter
Joseph Schumpeter was a 20th-century economist known for his theories on business cycles, innovation, and the concept of "creative destruction."
Alfred Marshall
A prominent British economist known for his significant contributions to the principles of microeconomics.
Purely Competitive Firm
A company that operates in a market where there are many buyers and sellers, each selling a homogeneous product with no single seller or buyer having the market power to influence prices.
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