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1)give an example of a market in which the allocative function of price is not very important. one suggested answer is vertical supply curves eg

1)give an example of a market in which the allocative function of price is not very important.

one suggested answer is vertical supply curves eg land, I have failed to understand the reasoning, please elaborate on it and give other examples, any graphs will be great!

give an example of a market in which the rationing function of price is not very important.

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