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Who was Adam Smith ? Anybody?
You sell popcorn during your schools football games. Knowing that the people usually buy more when the price is lower, how would you price your popcorn after halftime?
The government has decided that the free market price of cheese is too low. Farmers complain that the price floor has reduced their total revenue.Is this possible? Explain
The government’s involvement in economy serves what two purposes?
Identify the advantages and disadvantages of a command economy.
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