MyLab Economics with Pearson eText -- Access Card -- for Economics
MyLab Economics with Pearson eText -- Access Card -- for Economics
7th Edition
ISBN: 9780134739403
Author: R. Glenn Hubbard, Anthony Patrick O'Brien
Publisher: PEARSON
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Chapter 25, Problem 25.1.1RQ
To determine

Coincident demand.

Expert Solution & Answer
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Explanation of Solution

In this case, economists call the problem as a double coincidence of wants because it takes place between two people and each person wants to trade what the other person has.

Economics Concept Introduction

Concept introduction:

Double coincidence of wants: Batter economy takes places between two people; in this, each person must want what the other one has. This is known as the double coincidence wants.

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