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Economics Lecture Five (view source)

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===Honors===

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No essay this week. Instead, complete four out of the following five (#8-12) short-answer questions, with an optional question for extra credit at the end:

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No essay this week. Instead, complete four out of the following five (#8-12) short-answer questions, with an optional question for extra credit at the end (#13):

8. The greater the number of substitutes for a good, is it more or less price elastic? Explain briefly.

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