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Unformatted text preview: (opportunity) costs. How much of each good or service should we produce? If consumers offer higher prices, consumers can normally induce producers to increase the quantity of a commodity that they will supply per unit of time. If consumers offer lower prices, consumers normally induce producers to decrease the quantity of a commodity that they will supply per unit of time....
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This note was uploaded on 12/29/2011 for the course ECO 210 taught by Professor Malls during the Fall '10 term at SUNY Stony Brook.
- Fall '10