What is the definition of absolute
What is the definition of absolute price?
The price of a good relative to prices of other goods
The price in isolation, without reference to other prices
Latin for holding all else constant
An explicit cost
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one of the central ideas taught in econonimics is that fixed costs are sunk costs and that fixed cost are irrelevant to
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what is the definition of absolute pricethe price of a good relative to prices of other goodsthe price in isolation
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