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Write brief summary of your thoughts on the 2 questions: Consider firms in industries you are familiar with. Are firms in such industries price-takers or

Write brief summary of your thoughts on the 2 questions:

Consider firms in industries you are familiar with. Are firms in such industries price-takers or price-setters? How much control do they have over the prices they charge?
Does the discipline [of economics] have sufficient predictive power to play an important role in our debates about public policy?

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