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Macro Midterm 2 review

Macro Midterm 2 review - o Interdiction • Chapter 6 o...

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Macro Midterm 2 Chapters 5, 6, 10, 11 Chapter 5* o Elasticity o Determinants of Price Elasticity* o Perfectly elastic vs. perfectly inelastic o “Unit elastic demand” o Linear demand curve o
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Unformatted text preview: o Interdiction • Chapter 6 o Price ceilings binding vs. non binding constraints o Price floors (minimum wage) surplus & shortage...
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