Question: (a) Why does the analysis in the answer to Problem 8 refer to partial equilibrium analysis? (b) Why does the analysis of Figure 4.5 refer

(a) Why does the analysis in the answer to Problem 8 refer to partial equilibrium analysis?
(b) Why does the analysis of Figure 4.5 refer to general equilibrium analysis?
(c) What is the relationship between partial and general equilibrium analysis?

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