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Since anyone is able to obtain a license, not necessarily the low cost suppliers of archery lessons, and it is not necessarily the individuals with the highest willingness to pay who are able to receive a lesson, what does it imply about the efficiency of the larger economy to which the market for archery lessons belongs?
a. the economy is efficient in consumption, production and output levels
b. the economy is not efficient in consumption, production and output levels
c. the quota prevents the market price from acting as an economic signal
d. Price will act as an economic signal, drawing in more archery instructors.
what are the purposes of taxation?
Can growth arise without development? Growth is just one feature of development and therefore is an essential but not enough condition for economic development. For example, g
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Write the compensation principal of socitovsky
While referring to the "EYE on YOUR LIFE" section on page 183 of the textbook, apply this concept to your life. Develop your own policy position on price floors and price ceilings.
barriers to entry?
INTERDEPENDENCE OF MACROECONOMICS AND MICROECONOMICS In microeconomics, the underlying assumption is that the total output, total employment and total spending are given. It th
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