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Micro Economics > Handout 6 (How markets work) > Flashcards

Handout 6 (How markets work) Flashcards

1
Q

Market supply

A

The quantity of a good or service that all firms plan to sell at given prices in a given period of time

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2
Q

What are the 4 conditions of supply?

A

Costs of production
Technical progress
Taxes imposed on firms
Subsidies granted by government

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Micro Economics (9 decks)

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