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Author Question: What is a household's real income? What will be an ideal response?[br][br][b][color=gray]Question ... (Read 92 times)

NClaborn

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on: Jun 29, 2018
What is a household's real income?
 
  What will be an ideal response?

Question 2

Perfectly competitive firms will sometimes operate even though they incur an economic loss in the short run.
 
  Indicate whether the statement is true or false


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SAUXC

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A household's real income is the household's income expressed as a quantity of goods the household can afford to buy. Measured using a budget line, the household's real income is the maximum quantity of the specific goods or services plotted on the budget line.

Answer to Question 2

TRUE


NClaborn

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

kilada

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Reply 3 on: Yesterday
Excellent

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