If there are five goods in a barter economy, one needs to know ten prices in order to exchange one good for prices in another. If, however, there are ten goods in a barter economy, then one needs to know order to exchange one good for another. 30 20 25 45
If there are five goods in a barter economy, one needs to know ten prices in order to exchange one good for prices in another. If, however, there are ten goods in a barter economy, then one needs to know order to exchange one good for another. 30 20 25 45
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter22: Frontiers Of Microeconomics
Section: Chapter Questions
Problem 6PA
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![If there are five goods in a barter economy, one needs to know ten prices in order to exchange one good for
another. If, however, there are ten goods in a barter economy, then one needs to know
order to exchange one good for another.
prices in
30
20
25
45](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe625b53c-5037-4912-84cb-7ab9438f2484%2F49e04576-5728-4909-aa95-e94cd11a7e8a%2Fxgxahd_processed.png&w=3840&q=75)
Transcribed Image Text:If there are five goods in a barter economy, one needs to know ten prices in order to exchange one good for
another. If, however, there are ten goods in a barter economy, then one needs to know
order to exchange one good for another.
prices in
30
20
25
45
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