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describe the cutthroat competitor's reasons for not raising or lowering his/her price, thereby accounting for the kink in the demand curve?
Macroeconomics, Economics
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Question: Assume an economy is described by the following economic parameters: C = 0.8YD YD = Y + TR - tY TR = 100 t = 0.3 I = 1000 - 65i G = 600 L = 0.25Y - 75i M/P = 600 What is the equation that describes the IS curve ...
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