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Conduct a contractionary monetary policy

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Reference no: EM133130141

Q1. In general, the greater the number of substitutes a good has, demand will be relatively more price inelastic. Use examples to support your argument.

Q2. The law of diminishing returns applies only to businesses with very simply production.

Q3. A perfectly competitive firm faced with a price that is below its average variable cost will minimize its losses by losing down.

Q4. If the RBA wants to improve full employment, it will conduct a contractionary monetary policy.

Reference no: EM133130141

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