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Author Question: Why do economists show little interest in how the benefits from an exchange are shared between the ... (Read 9 times)

jazziefee

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on: Jun 30, 2018
Why do economists show little interest in how the benefits from an exchange are shared between the two parties?

Question 2

If a firm experiences economies of scale throughout, it will have a horizontal long-run average-total-cost curve.
 a. True
  b. False
  Indicate whether the statement is true or false


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Jayson

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Reply #1 on: Jun 30, 2018
Answer to Question 1

To economists, what matters most is that the exchange between two individuals takes place whenever an opportunity for the same arises. The fact that exchange benefits both parties is a positive statement. However, normative economics has no way to determine which of the two individuals deserves a higher share of the benefit resulting from the exchange.

Answer to Question 2

False


jazziefee

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Reply #2 on: Jun 30, 2018
Thank you


Jayson

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Reply #3 on: Jun 30, 2018
No problemo


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