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Question: 1. Why is TFC horizontal?
2. If the consumer income increase, show the impact on his budget line, assume the price not change.
3. Why is a seller under perfect competition market is a price taker?
Microeconomics, Economics
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Price Quantity of Pizzas Demanded Quantity of Pizzas Demanded (Dollars) (Income = $20,000) (Income = $24,000) 8 40 50 10 32 45 12 24 30 14 1 ...
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