The meaning of the phrase ceteris paribus to an economist is: <span>A.an assumption that nothing but the price of an item will change
If translated, ceteris paribus means </span><span>"other things equal". This principle often used to predict the flow of supply and demand but it has a really huge flaw because other factors such as consumers' taste and technology development could almost never be predicted.</span>
The main thing which the feudal system was based on was land ownership.
<h3>What is Feudalism?</h3>
This refers to the social system that was mainly used in medieval Europe where a lord gave land to his vassals as a reward,
Hence, we can see that your question is incomplete so a general overview of the feudal system was given to help you get a better understanding of the concept.
Read more about feudalism here:
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There’s no numbers, I cannot help if there are no details
Answer:
a. expected retaliation from competitors.b. the cost of substitute products.c. variable costs of production.d. customers' high switching costs.