MicroEconomics Chapter 4 Roger A. Arnold 10th edition
Chapter 4 Roger A. Arnold 10th edition
Absolute (Money) Price
The price of a good in money terms.
The loss to society of not producing the competitive, or supply-and-demand-determined, level of output.
A government-mandated maximum price above which legal trades cannot be made.
A government-mandated minimum price below which legal trades cannot be made.
The price of a good in terms of another good.
A sale whereby one good can be purchased only if another good is also purchased.