For Native Americans during the colonial period, what could we say about the PED (in magnitude) for horses? O It was less than 1 O It was greater than 1 O It was equal to 1 O PED was never discussed in this course

Microeconomics: Principles & Policy
14th Edition
ISBN:9781337794992
Author:William J. Baumol, Alan S. Blinder, John L. Solow
Publisher:William J. Baumol, Alan S. Blinder, John L. Solow
Chapter19: Labor And Entrepreneurship: The Human Inputs
Section: Chapter Questions
Problem 8DQ
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For Native Americans during the colonial period, what could we say about the PED (in magnitude) for horses?
O It was less than 1
O It was greater than 1
O It was equal to 1
O PED was never discussed in this course
Transcribed Image Text:For Native Americans during the colonial period, what could we say about the PED (in magnitude) for horses? O It was less than 1 O It was greater than 1 O It was equal to 1 O PED was never discussed in this course
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