Multiple Choice
Is it possible to express an economic model in words without diagrams?
A) No, models can only be stated in diagrams.
B) No, the very definition of model requires mathematical form.
C) Yes, some of the simplest models are verbal statements.
D) Yes, although the best models always use diagrams.
E) Uncertain, economic theory has not answered this question yet.
Correct Answer:
Verified
Correct Answer:
Verified
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