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Jaylonwhite97 Jaylonwhite97
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5 years ago
Draw a demand curve and label it D1.  On the graph, illustrate an increase in demand and a decrease in demand, and label the curves D2 and D3, respectively. Starting on demand curve D1, explain the shift that would result from each of the following events:

a. a decrease in income and the good is a normal good
b. a decrease in income and the good is an inferior good
c. an increase in the price of a substitute good
d. an increase in the price of a complementary good
e. a decrease in the taste for the good
f. an increase in population
g. a decrease in the expected future price of the good
Textbook 
InMacro

InMacro


Edition: 1st
Authors:
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Ceren C.Ceren C.
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