Type of model used by economists
Which type of model is used by the economists to analyze competitive market?
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Economists employ the model of supply and demand to analyze competitive markets. In competitive market, there are numerous buyers and sellers, each of whom has little or no persuade on the market price.
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The price elasticity of supply is zero therefore supply is perfectly price inelastic within: (w) Panel A. (x) Panel B. (y) Panel C. (z) Panel D. Discover Q & A Leading Solution Library Avail More Than 1425099 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1939044 Asked 3,689 Active Tutors 1425099 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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