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Hi tutors. I am having very difficult time with this homework set for my economics class. I do not understand what the professor is describing

Hi tutors. I am having very difficult time with this homework set for my economics class. I do not understand what the professor is describing with these question and I want to succeed in the class. I would like to ask for help with these problems please. I'm sorry for my rough english because it is not my first language as I am studying that too. Thank you so much!

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