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Suppose the government sets a controlled price below the market clearing price for a commodity. Draw a diagram and use the idea of a maximum buying price to explain whether the total price paid by the buyers will end up lower or higher than before.
Business Economics, Economics
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The reason that would cause movement along demand curve is 1) income of the buyers. 2) availability of close substitutes. 3) a change in the price of the good itself. 4) non of the above
Explain Huffman Coding to me: i.e. how it works, with examples, in a clean, precise manner.
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