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"The more the division of labor and the application of machinery extend, the more does competition extend among the workers, the more do their wages shrink together."

[Karl Marx ]
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  • Mark

    Site author
    15 Sep 2026

    That's done Valli, thank you for letting me know about this.

    Unit 2.3: Competitive market equilibrium

  • Valli

    15 Sep 2026

    Hi, when I tried to access Class notes, I couldn't access Equilibrium; instead, another topic (Economic systems) is available. Could you please do the needful?

    Unit 2.3: Competitive market equilibrium

  • Mark

    Site author
    14 Sep 2026

    It is median income, that is what I meant so let me change that.

    Inequality

  • Mark

    Site author
    14 Sep 2026

    They are Kristina though I have seen the one in the response, with the explanation that it was a short run money supply curve. I would not award such a diagram full marks though. As for RWEs, they are necessary for part (b), just as in the 15-mark...

    Sample 1

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