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You are a commuter student at a local university. Because of the steep rise in gasoline prices, your parents decide to give you enough additional weekly cash so that you can afford the higher transportation expenses without having to reduce your spending on anything else.
True or False, Explain (using indifference curve analysis): Because of your parents' generosity, your standard of living, i.e., welfare, will be unaffected by the increase in gasoline prices. (HINT: Think of the additional cash from your parents as a "cost-of-living adjustment".)
what is the south africas governments standpoint on international trade
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In the long-run equilibrium, each firm in a perfectly competitive industry will choose the plant size associated with minimum long-run average cost. Is this TRUE or FALSE? And why?
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