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If 5 painters can paint 5 rooms in 5 days, how long will it take 10 painters to paint 10 rooms?
This problem involves understanding the rate of work. Since 5 painters can paint 5 rooms in 5 days, one painter can paint one room in the same amount of time. This is because the work is directly proportional to the number of workers and the time taken. Therefore, 10 painters can also paint 10 rooms in 5 days, as the
In a triangle, two angles measure 65° and 45°. What is the measure of the third angle, and why?
To solve this, use the fact that the sum of the angles in a triangle is always 180°. If two of the angles are 65° and 45°, then the third angle can be found by subtracting the sum of these two angles from 180°: 180° - (65° + 45°) = 180° - 110° = 70°. So, the measure of the third angle is 70°. This is because the sum
Explain the kinked demand curve
The Kinked Demand Curve theory is a concept used in economics to explain price stability in oligopolistic markets, where a few large firms dominate. This theory suggests that in such markets, the demand curve a firm faces for its products has a distinctive kinked shape due to the expected reactions of competitors to c
What are supply side policies and how do they effect the economy?
Supply-side policies are strategies aimed at increasing the productive capacity of an economy, focusing on boosting the efficiency and productivity of producing goods and services. These policies generally involve measures like encouraging investment in technology and infrastructure, improving education and skills tra
What is meant by an oligopoly being both interdependent and uncertain in their price strategies?
Interdependence the limited number of players, each firm's actions, especially regarding pricing, directly affect the others. For example, if one firm lowers its prices, it can significantly impact the market share of the other firms. This interdependence means that firms in an oligopoly must consider the potential re
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