[Answered] A simplified representation of the real world that is used to explain economic phenomena is a(n) ...

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RODY.ELKHALIL

Hero Member
Posts: 591

on: Jun 29, 2018

A simplified representation of the real world that is used to explain economic phenomena is a(n)

A) viewpoint.
B) model.
C) assumption.
D) implication.

Question 2

Refer to the above figures. Which of the panels would be consistent with the situation in which external costs exist?

A) Panel 1
B) Panel 2
C) Panels 1 and 2
D) neither panel

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SamMuagrove

Sr. Member
Posts: 312

Reply #1 on: Jun 29, 2018

Answer to Question 1

B

Answer to Question 2

A

RODY.ELKHALIL

Member
Posts: 591

Reply 2 on: Jun 29, 2018

Wow, this really help

tkempin

Member
Posts: 332

Reply 3 on: Yesterday

TYSM

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