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Economics and Economic Reasoning
The Economic Organization of Society
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analysis average total cost average variable cost benefits cassettes chapter competition consider consumers corporations cost curve countries decisions decrease demand curve determine diminishing marginal discussion economic system economists effect elasticity of demand equilibrium price example exchange rate Exhibit factors of production farmers firm's firms fixed cost graph important incentive income increase indifference curve individuals industry inelastic inputs institutions invisible hand labor law of demand law of supply long-run marginal cost marginal cost curve marginal productivity marginal revenue marginal utility monopolist monopolistic competition monopoly oligopoly opportunity cost output percent percentage perfect competition pesos political price and quantity problems production possibility curve profit quantity demanded quantity supplied rational choice real-world reason rent rise role sell short-run slope social society suppliers supply and demand supply curve tariffs there's total cost curve total revenue trade restrictions United wage workers