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A hypothesis is a testable prediction about how the world will behave if our idea is correct, and it is often worded as an if-then statement.

Natural opioids, called opiates, are derivatives of opium, which is a naturally occurring compound found in the poppy plant.

Edema in patients suffering from cirrhosis is found in the:

Infectious mononucleosis is also known as:

Perfectly competitive firms have no market power.

When a perfectly competitive industry experiences a demand increase, existing firms will be hurt in the short run.

Perfectly competitive firms have horizontal demand curves.

A perfectly competitive firm is producing at a point where marginal revenue is less than marginal cost. This firm should increase its output.

A competitive firm is producing at a point where price is $32, marginal cost is $18, and average total cost is $37. From this we know that the firm has negative economic profits.

Perfectly competitive firms have demand curves that are perfectly inelastic.