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Question The basis of microeconomic theory the

Question : Question The basis of microeconomic theory the : 5484

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The basis of microeconomic theory is the notion of thinking at the margin. Accordingly, it is helpful to interpret a demand curve as a marginal benefit curve, and to interpret a supply curve as a marginal cost curve. Using these interpretations, briefly explain why the intersection of a demand curve and a supply curve gives rise to an equilibrium price and quantity.

 

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Economics 10 Months Ago 142 Views
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