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Economics Entrance Tests: Mock Test 32
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A good is rival in consumption but not excludable is known to be as
The maximum amount of an individual is willing to sacrifice to procure a good or avoid something undesirable is known as
The law that gives the marginal cost curve a positive slope is known as
Trade is the basis for the prosperity of a country as it allows
The concept that makes the market more competitive as well attracts new entrants to enter into the market is known to be as
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