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With reference to the theory of the consumer

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With reference to the theory of the consumer (demand, elasticity and utility) and the theory of the firm (costs and market structure). Is the "Free Market" a positive or normative construct? How would your response change (if at all) if you moved from the short-run to the long-run? Your goal is to use economic theory to support your answer.

 

Paper#22686 | Written in 18-Jul-2015

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