What does that mean that your real income has increased

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Q. You find that your paycheck for the year is higher this year than last. Does that mean that your real income has increased? Explain carefully.

Q. A single seller of a salt in assumption land has a constant marginal cost of $50 per tonne and faces the following inverse demand curve of p=$100-Q. what is the equilibrium price and quantity sold in this market

Reference no: EM1360516

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