The First Barons'.........................
Between 1640-1660, Great Britain enjoyed the greatest benefits of mercantilism. During this period, the prevailing economic wisdom suggested that the empire's colonies could supply raw materials and resources to the mother country and subsequently be used as export markets for the finished products.
Answer:
Sellers are in a purely competitive market and see a perfectly elastic demand. They can sell any quantity of the product at the market price.
Yup what he said is right !
Answer:
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