Macroeconomics: Principles for a Changing World
Macroeconomics: Principles for a Changing World
4th Edition
ISBN: 9781464186929
Author: Eric Chiang
Publisher: Worth Publishers
Question
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Chapter 3, Problem 1QP
To determine

Information other than price that are available through the product price.

Expert Solution & Answer
Check Mark

Explanation of Solution

Price of a product provides more information regarding the product. The important information are the availability of unit quantity of a product for its unit price or demand for that product in the market. Also, the price provides a comparative study about the price of another product in the market it may be a substitute good or others.

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