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Economics final review part 4

AB
diminishing marginal returnbenefits will eventually be negative
union strikeswithholding labor
demand is how much consumers wantat different prices at one time
price in elastic (insulin)the good is a necessity
supplywilling and able to sell at a range of prices
market equilibriumwhere supply and demand are equal
Federal Reservecontrols the country's money supply
substitute goodssatisfy the similar wants
Ceteris Paribusall other things held constant
subsidygovernment trying to encourage business


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Schalmont High School
Schenectady, NY

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