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Date: Saturday, 14. November 2015
Author: Gast
Review:
How much notice do you have to give? taking prescription drugs into australia The link elaborates a bit in laymans terms, but people with some econ background should have an easier time conceptualizing the problem. Welfare economics acknowledges that what you pay for a product is instrumental in your enjoyment of that product. Consumer surplus isnt some empty abstraction, but a measure of the value perceived by a purchaser. A product with no consumer surplus is a product a consumer doesnt care whether they buy.
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