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What is the definition of herding and how does it contribute to bubbles?
Product Price
The monetary cost consumers are required to pay to acquire a good or service.
Market Wage Rate
The prevailing rate of pay for a particular job in a specific market or geographical area.
Employ
To hire or use the services of someone or something for a particular purpose or job.
Profit-maximizing
The process by which a firm determines the price and output level that returns the maximum profit.
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