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(1) What is a competitive market? Briefly describe a type of market that is not perfectly competitive. (2) What are the demand schedule and the
(1) What is a competitive market? Briefly describe a type of market that is not perfectly competitive.
(2) What are the demand schedule and the demand curve, and how are they related? Why does the demand curve slope downward?
(3) "An increase in the demand for notebooks raises the quantity of notebooks demanded but not the quantity supplied." Is this statement true or false? Explain.
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