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Economists in general




A. Do not try to explain people's tastes, but they do try to explain what happens when tastes change.;B. Do not believe that people's tastes determine demand and therefore they ignore the subject of tastes.;C. Believe that they must be able to explain people's tastes in order to explain what happens when tastes change.;D. Incorporate tastes into economic models only to the extent that tastes determine whether pairs of goods are substitutes or complements.


Paper#28072 | Written in 18-Jul-2015

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