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a) An enhances in the quantity demanded of a good can happen because consumers expect the price of that good to enhance in the near future.
b) A price ceiling imposed above the competitive equilibrium will result in a shortage.
Examples
A country s choice among the production of education and nuclear submarines is an issue of opportunity cost. Explain the issue using a PPF. Resources are limited whereas
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What is the impact of microeconomics on economy?
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Find the best response functions and the mixed strategies Nash Equilibrium if each player randomizes over his actions.
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