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example of marginal opportunity cost
What are the income and cross elasticities of demand? Why might they be useful? Explain.
what is golloping inflation
Which of the following is a free good? Fresh water, forests in the northwestern United States, the advice of economists, or none of the above?
what are the sources of monopoly power
What is the explanation for SAC to be tangent to LAC?(In other words, why must both be tangent to each other)?
Engel Curves -Engel curves relate quantity of good consumed to income. -If good is a normal good, Engel curve is sloping upward. -If good is an inferior good, the Engel c
Austrian economics is a brand of neo-classical economics that was established in Vienna during the late 19th century & first half of the 20th century. Austrian economics was strong
relationship between total utilities and marginal utilities
How does the production possibilietes curve relate to present day economics?
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