Question 1: According to your textbook, what are the stages of the market cycle? Question 2: According to Austrian Economics what are the primaryOctober 12, 2020
10) Given: I’S = $900 , r = $700 , IH = $1,600 If these are the only info we have, how can we describe this policy?October 12, 2020
In competitive markets
the products sold are different depending on the firm selling the product.
it is hard for a seller to enter the market due to barriers to entry.
producers can expect to be able to set prices at the level they
firms will leave the market if they are making economic profits.
buyers can expect to find consistently low prices and wide availability of the goods that they want.
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