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Question
question 8
the term \ceteris paribus\ means that:
o everything is variable.
o all variables except those specified are constant.
o no one knows which variables will change and which will remain constant.
o what is true for the individual is not necessarily true for the whole.
Brief Explanations
Ceteris paribus is a Latin term used in economic analysis. It means holding all other factors constant while examining the relationship between specific variables.
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all variables except those specified are constant.