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Microeconomics: Principles & Policy

14th Edition
William J. Baumol + 2 others
Publisher: Cengage Learning
ISBN: 9781337794992

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Section
BuyFindarrow_forward

Microeconomics: Principles & Policy

14th Edition
William J. Baumol + 2 others
Publisher: Cengage Learning
ISBN: 9781337794992
Chapter 2, Problem 3DQ
Textbook Problem
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Why do you think per capita income in Maryland is nearly double that in Mississippi?

To determine

To compare the per capita income of Mississippi and Maryland.

Explanation of Solution

Per capita income: It is the average amount of money earned by a person working in a nation or any geographical area.

   Per capita income=Total IncomeTotal Number of Person  

The USA is one of the most populous and richest country across the globe

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