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Microeconomics 15th Edition by James Gwartney,Richard Stroup,Russell Sobel,David Macpherson
Edition 15ISBN: 978-1285453569Microeconomics 15th Edition by James Gwartney,Richard Stroup,Russell Sobel,David Macpherson
Edition 15ISBN: 978-1285453569 Exercise 7
"If Jones trades a used car to Smith for $5,000, nothing new is created. Thus, there is no way the transaction can improve the welfare of people." Is this statement true Why or why not
Explanation
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No, the statement is incorrect because e...
Microeconomics 15th Edition by James Gwartney,Richard Stroup,Russell Sobel,David Macpherson
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