Asked by
Sarine Hajjar
on Oct 26, 2024
Verified
The assumption ceteris paribus in a model means "other things equal."
Ceteris Paribus
A Latin phrase meaning "all other things being equal," used in economics to isolate the effect of one variable changing while holding others fixed.
- Comprehend the significance of presumptions in economic models and their possible constraints.
Verified Answer
AF
Learning Objectives
- Comprehend the significance of presumptions in economic models and their possible constraints.
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