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In each of the following situations, list what will happen to the equilibrium price and the equilibr

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In each of the following situations, list what will happen to the equilibrium price and the equilibr

In each of the following situations, list what will happen to the equilibrium price and the equilibrium quantity for a particular product, which is a normal good.

a.   The population increases and the price of inputs increase
b.   The price of a complement increases and technology advances
c.   The number of firms in the market increases and income increases
d.   Price is expected to increase in the future
e.   Consumer preference increases and the price of a substitute in production decreases

Textbook

Essentials of Economics

Edition: 4^th

Authors: Hubbard, O'Brien

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Tidy Author

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8 years ago

Just got PERFECT on my quiz

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this is exactly what I needed

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Thanks for your help!!

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