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Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406

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BuyFindarrow_forward

Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406
Textbook Problem

What kind of information does price often transmit?

To determine

The information transmitted through price.

Explanation

Price is used as a medium to transmit the relative scarcity of a commodity. An increase in the price of a commodity indicates that the relative supply of the commodity has decreased compared to the initial supply...

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