Economic models are used by economists to option d. all of the choices are correct.
What are economic models used for?
An Economic models is one that is said to be made for the purpose of explaining and examining prices as well as the quantities traded in a competitive market.
Note that it is seen as the model's equations that tells mor about the level of supply and demand as a given tool of price as well as other variables such as income.
Therefore, Economic models are used by economists to option d. all of the choices are correct.
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