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written consent of Rice University. 

Original version based on the 2nd edition of Principles of Economics, Economics and the Economy, 2e by Timothy 
Taylor, published in 2011. 

Portions of the Demand and Supply chapter were derived from "Why It Matters: Government in Action by 
Steve Greenlaw and Lumen Learning." Located at: 
https://courses.lumenlearning.com/waymakermacroxmasterfall2016/chapter/why-it-matters-government-
action/. License: CC BY 4.0. 

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