Find $\bigcap _ { i = 1 } ^ { + \infty } \left[ 1 - \frac { 1 } { i } , 1 \right]$

question 143

Short Answer

Find $\bigcap _ { i = 1 } ^ { + \infty } \left[ 1 - \frac { 1 } { i } , 1 \right]$

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Definitions:

Current Price

The price at which a good or service is being sold in the market at the present moment.

Excess Supply

A situation in the market where the quantity of a good offered by producers exceeds the quantity demanded by consumers at a given price, leading to surplus.

Binding Price Floor

A price floor established by the government that exceeds the market equilibrium price, resulting in an excess supply of products or services.

Market Outcome

is the result of economic activities within a market, determined by the interaction of supply and demand.