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Practice Exercise 3-1.docx

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Department
Economics
Course
ECON 102
Professor
Shadab Qaiser
Semester
Winter

Description
1 The relative price of a good is all of the following exceptA the ratio of one price to anotherB an opportunity costC the money price of the good divided by a price indexD the same as the money price of a goodE determined in a marketAnswerD2 Which market is an example of a market for goodsA labour marketB haircut marketC manufactured input marketD apple marketE energy marketAnswerD3 Which market is an example of a market for servicesA orange marketB tennis lessons mar
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