If the supply curve of a product is relatively inelastic and the price of a substitute product
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Question:
If the supply curve of a product is relatively inelastic and the price of a substitute product rises, equilibrium quantity will ___ and equilibrium price will ___, but equilibrium ___ will change proportionately more.
Related Book For
Microeconomics Theory and Applications with Calculus
ISBN: 978-0133019933
3rd edition
Authors: Jeffrey M. Perloff
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