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Economists make three types of assumptions when developing models: Negligible assumptions (we assume things that do not impact the model do not matter}; domain assumptions

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Economists make three types of assumptions when developing models: Negligible assumptions (we assume things that do not impact the model do not matter}; domain assumptions (we assume something about the domain in which the model applies}; and heuristic assumptions {assumptions made that we know are unrealistic but allow us to build the model. Critically evaluate the assumptions of the ghwhlin model. For each one, label it as a negligible, domain. or heuristic assumption. What would it imply about the usability of the model if domain assumptions were violated? What would change about the model if we removed the heuristic assumptions

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