4. Are prices an accurate measure of a goods total value? Are prices an accurate measure of...
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4. Are prices an accurate measure of a good’s total value? Are prices an accurate measure of a good’s marginal value? What’s the difference? Can you think of a good that has high total value but low marginal value? Use this concept to explain why professional wrestlers earn more than nurses, despite the fact that nurses probably create more total value to society.
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Related Book For
Microeconomics Private And Public Choice
ISBN: 9780538754330
13th Edition
Authors: James D. Gwartney
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