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Econ 102 UPDATED Test Questions And CORRECT Answers

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price systemsignal to everyone in the system what goods are relatively more or less scarce initial demand and supply intersectionp1 and E Suppose that consumer income decreases and that hamburger is an inferior good. Which of the following will occur in the market for hamburger?Market clearing price will rise, and equilibrium quantity will rise. Which of the following are ways to ration goods and services?price physical force political power In general, which rationing system leads to the most efficient use of available resources?free market

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Econ 102 UPDATED Test Questions And CORRECT Answers

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