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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

What kind of information does price transmit?

To determine

The information transmitted through price.

Explanation

The relative scarcity of a commodity is indicated through the medium of price. When the price of a commodity increases, it indicates that the relative supply of the commodity decreases compared to the initial supply...

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