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lectur6-page26

lectur6-page26 - u Prices are the"guiding light"...

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26 26 The Market System u Prices are used to signal the value of individual resources and commodities. Therefore, prices provide valuable information to consumers and producers.
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Unformatted text preview: u Prices are the "guiding light" to which resource owners, businesses, and consumers follow when economic choices must be made....
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