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Does a firm's price equal marginal cost in the short run, in the long run, or both? Explain.
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What was the classical models
Q. Determination of variables in AS-AD model? Once Y and P are determined, all other endogenous variables would be determined as well. Interest rate is determined by money mark
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when domestic currency becomes more valuable in terms of foreign currency, the domestic currency is said to have
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Explain the trade-off between equity and efficiency. Identify how individuals and organizations are likely to change their behavior as a result of government actions.
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