If a model is based on unrealistic assumptions,then it cannot be robust.
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Q12: Equilibrium conditions are used to analyze the
Q13: An economic problem can be defined as
Q14: Costs are forgone opportunities.
Q15: Optimization typically requires use of the equimarginal
Q16: Unlike a consumer,a competitive profit-maximizing firm faces
Q18: Economists focus only on real world consumer
Q19: Economic models of markets generally treat prices
Q20: A Nash equilibrium is one in which
Q21: While the model of supply and demand
Q22: If an activity is worth pursuing at
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