What does the ceteris paribus assumption mean?

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Exploring Economics

ISBN: 9781439040249

5th Edition

Authors: Robert L Sexton

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Question Posted: Nov 25, 2017 02:25 AM

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What is the Ceteris Paribus assumption, and why is this assumption very important in the definition of Demand or Supply?
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What does the ceteris paribus assumption mean?

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It means everything else remaining constant Assume that A is affected by BC and D If ...View the full answer

Exploring Economics

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