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The figure given below shows the aggregate demand and supply curves of a perfectly competitive market.Figure 10.7
-The theory of the long-run in perfect competition helps to provide a rationale for the belief in a limited role for government in society.
Probability
This refers to the likelihood or chance of a particular event happening, usually expressed as a number between 0 (impossible) and 1 (certain).
Environmental Issues
Various concerns related to the deterioration of the environment, including pollution, global warming, and deforestation.
Eligible Voter
An individual who meets the criteria determined by law or policy to vote in an election.
Probability
The estimation of how probable an event is, marked by a number from 0 to 1.
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