Surplus of the good
Describe when there will be a surplus of the good?
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When the real market price is more than the equilibrium price, then there will be a surplus of the good.
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Cite examples of recent decisions that you made in which you, at least implicitly, weighed marginal cost and marginal benefit?
Explain the concept of “economies of scale” and “increasing returns”.
What is Supply schedule and how it is related to supply curve?
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