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a) Microeconomics is concerned with decision-making within the firm, household or on the individual level, but macroeconomics is concerned with the behavior of the whole economic system.
b) Economic goals are opposite with one another, but may be conflicting with other social goals.
illustrate and explain using diagrams how a single seller within the market can maintain an inefficient allocation of resourcesquestion #Minimum 100 words accepted#
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Three People choose whether to contribute a fixed amount toward the provision of a public good. This good is provided if and only if at least two of them contribute. If it is not p
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