When the citrus crop was damaged in recent cold weather, the price of citrus fruits increased in

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When the citrus crop was damaged in recent cold weather, the price of citrus fruits increased in greater proportion than the quantity of fruit destroyed, increasing the value of the remaining crop. This shows how irrational eco- nomic value is: a smaller real stock of goods has higher value than a larger stock! Evaluate.

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Principles Of Microeconomics

ISBN: 9780812224177

1st Edition

Authors: Eugene Silberberg And Gregory Ellis

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