Let X Be a Point Obviously Outside the Figure

question 35

Short Answer

Let X be a point obviously outside the figure. Draw . How many times does it cross the curve?
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It will cross the curve an __________ (even, odd) number of times.

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Definitions:

Persistent Shortage

A situation where the demand for a good or service consistently exceeds its supply, over a significant period of time.

Deadweight Loss

The loss of economic efficiency when the equilibrium for a good or a service is not achieved or is not achievable.

Rent Control

A government policy or law that sets a maximum price landlords can charge for rent.

Opportunity Costs

The cost of the next best alternative foregone when making a decision.