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ACC 321-Exam 1

by: Janice Beach

ACC 321-Exam 1

Janice Beach
Isenberg School of Management
GPA 3.93

No professor available

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Test Prep (MCAT, SAT...)
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This 1 page Test Prep (MCAT, SAT...) was uploaded by Janice Beach on Sunday January 18, 2015. The Test Prep (MCAT, SAT...) belongs to a course at University of Massachusetts taught by a professor in Fall. Since its upload, it has received 35 views.


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Date Created: 01/18/15
12115 Note Microeconomics deals with the behavior of individual economic units such as consumers rms workers and inverstors As resources are limited it is about ways to make the most of these limit allocation of scare resources Use model to help understanding the reality The reality is too complex and difficult to understand however the model has enough in common with reality so we can understand more by studying the model Walrasion Theory of Market Behavior Assumption 0 Rational Behavior Optimising Complete Information 0 Perfectly Competitive Market market has many seller and buyer that no single seller or buyer has a signi cant impact on price Equirium between Demand and Supply 0 Preferences and tech are xed


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