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ECO100 Economics for Business - 2026 Semester 1
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Advanced PPF: moving from A→C yields rising OC because:
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Inefficiency occurs when
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If supply decreases but demand constant:
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A movement along the demand curve is caused by:
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A surplus occurs when
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Competitive markets have
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Equilibrium occurs when:
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A price above equilibrium causes:
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A tax on sellers shifts supply:
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If P=1.5 above equilibrium, consumers buy less causing:
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