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Let W be the subspace spanned by the uʹs. Write y as the sum of a vector in W and a vector orthogonal to W.
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Expectations
Anticipations about the future, influencing economic agents’ decisions in markets.
Supply Curve
A graphical representation of the relationship between the price of a product and the quantity of the product that a seller is willing and able to supply.
Number of Sellers
The total count of individuals or entities offering a specific good or service in the market.
Production Technology
The methods, equipment, and processes used to produce goods and services.
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