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economics 2

model normative economics investment normal good price system external cost external benefit externality tax incidence cross elasticity of demand implicit costs run economies of scale explicit costs normal profit marginal-average rule the long run average cost curvve constant returns to scale diseconomies scale constant-cost industry decreasing cost industry increasing cost industry price maker arbitrage muteral interdependence kinked demand curve marginal revenue product (MRP) derived demand monoposony sherman act claymon act federal trade commission act robinson-patman act celler-kefauver act rule of reason per se rule marginal cost pricing

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