Communist economic system
Defenders of the communist economic system may point out that consumers pay lower prices for certain goods because the government imposes a limit on what producers may charge. What are two other ways that consumers may be "paying" for these goods?
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Defenders of the communist economic system may point out that consumers pay lower prices for certain goods because the government imposes a limit on what producers may charge.
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A perfectly competitive industry is composed of 60 firms. The industry demand curve is Q = 1100 - 40P , where P is price and Q is the total market demand. Firms have identical costs: C = 50 + 5q + 1/2q^2, where q is the firm's output. 2. What is t
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