Tutor profile: Jinhwan R.
How does the SAT differ from the ACT, and which test should I choose?
The main differences are that the SAT is a more methodical test, with more time given than the ACT. Also, there is the lack of a specific 'Science' section, which is mostly replaced with a scientific passage in the reading section of the SAT. Additionally, there are two math sections and it makes up half of your score, so if you don't have as much time to study, and feel that you have a heavy strength in math, the SAT may be the way to go. In one of the two math sections, you CAN'T use a calculator, contrary to the math section on the ACT where you can use a calculator. These main differences, among other minor ones, could dictate which test fits best for you. There's no one go-to test for either the ACT or SAT, it depends on the person.
How should I go about studying for a standardized test like the ACT?
I would first recommend taking a practice test right out of the gates without time constrictions! If you time constrained, you may guess for certain questions, and you may not know if you have mastery certain concepts or not. This is where you'll learn about yourself. What are your strengths? Weaknesses? Concepts you know or don't know? With a first practice test you'll learn where you need to start studying. Focus on studying the concepts you don't know, like punctuation, Algebra, Geometry, vocabulary, etc. Then take another practice test, again without time constraints to refocus where your weaknesses and strengths are. This will again narrow down the concepts you need to study. Once you feel like you have a good grasp of all or the majority of concepts, then you start taking multiple practice tests, then placing the time constraints onto yourself. Make sure after each test, review your wrong answers and reflect on which test taking strategies may work or don't work for you. Then it's more practice, more practice tests, up until MASTERY!
How does a Cournot Duopoly, a Monopoly, and a Perfectly Competitive Market compare to each other?
First off, in a Perfectly Competitive Market, all firms are price takers, there is NO consumer surplus in the long run, and NO dead weight loss. In a Cournot Duopoly, they choose their quantity and price based on a reaction curve of the other firm in the market. There are available profits, and the marginal cost will determine how much profits are made by these firms. Finally a monopoly is alone, and will set the price that maximizes profits, creating the most profits out of these three markets, selling the least quantity, and creating the most dead weight loss.
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