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Essentials of Economics 2nd Edition by Campbell McConnell, Randy Grant, Stanley Brue
Edition 2ISBN: 978-0073511313Essentials of Economics 2nd Edition by Campbell McConnell, Randy Grant, Stanley Brue
Edition 2ISBN: 978-0073511313 Exercise 1
Use the characteristics of private goods to explain why firms can profitably offer them for sale. Why do competitive firms tend to produce private goods at minimum average cost What do economists mean when they say that private goods tend to be produced in the "right" amounts
Explanation
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A private good is defined as the goods t...
Essentials of Economics 2nd Edition by Campbell McConnell, Randy Grant, Stanley Brue
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