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Are the world's wealthiest nations obligated to aid in the economic development of poor nations? The law of supply and demand relies on the assumption

  1. Are the world's wealthiest nations obligated to aid in the economic development of poor nations?
  2. The law of supply and demand relies on the assumption of 'ceteris paribus'. To what extent does this exist in real life?
  3. Explain why the following statement is false: "In the goods market, no buyer would be willing to pay more than the equilibrium price."

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