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Unformatted text preview: clause. It implies that the analysis operates under the condition "other things are equal or constant or remain unchanged " when individual behavior alters. Other things include income of the individual, number of members of a family, price of substitutes, taste of a consumer, technical conditions of production, supply of labor, land, capital and other resources, fiscal and monetary policies of the government, etc....
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This note was uploaded on 11/26/2011 for the course ECONOMIC ec 201 taught by Professor - during the Fall '10 term at Montgomery.
- Fall '10